PTC (NASDAQ:PTC) Price Target Raised to $230.00

PTC (NASDAQ:PTC) had its price target increased by Stifel Nicolaus from $200.00 to $230.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

PTC has been the topic of several other research reports. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and cut their price objective for the company from $210.00 to $196.00 in a report on Friday, November 1st. Robert W. Baird upped their target price on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada increased their price objective on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, PTC currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.54.

PTC Trading Down 4.1 %

Shares of NASDAQ PTC opened at $188.83 on Wednesday. The company has a market cap of $22.68 billion, a price-to-earnings ratio of 60.72, a PEG ratio of 2.70 and a beta of 1.16. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. PTC has a fifty-two week low of $163.30 and a fifty-two week high of $203.09. The business’s 50 day moving average price is $192.02 and its 200-day moving average price is $181.59.

Insider Buying and Selling at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the transaction, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at $160,356. This trade represents a 67.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the completion of the sale, the executive vice president now owns 21,707 shares in the company, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,242 shares of company stock valued at $3,630,716 over the last ninety days. Corporate insiders own 1.17% of the company’s stock.

Institutional Trading of PTC

A number of institutional investors and hedge funds have recently made changes to their positions in PTC. Oddo BHF Asset Management Sas bought a new position in shares of PTC in the third quarter worth $3,113,000. Franklin Resources Inc. lifted its position in shares of PTC by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after acquiring an additional 30,525 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of PTC by 48.7% in the third quarter. Sanctuary Advisors LLC now owns 4,265 shares of the technology company’s stock worth $843,000 after buying an additional 1,397 shares during the period. Toronto Dominion Bank boosted its position in PTC by 46.1% during the 3rd quarter. Toronto Dominion Bank now owns 59,294 shares of the technology company’s stock worth $10,712,000 after acquiring an additional 18,713 shares during the period. Finally, TT International Asset Management LTD purchased a new position in PTC during the third quarter valued at approximately $1,143,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Company Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, and field service processes; ThingWorx, a platform for Industrial Internet of Things; ServiceMax, a field service management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools.