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

PTC (NASDAQ:PTC) had its price objective boosted by Royal Bank of Canada from $202.00 to $230.00 in a research note issued to investors on Thursday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Several other research analysts have also recently commented on the company. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and reduced their price target for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Robert W. Baird raised their target price on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Piper Sandler lifted their price objective on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Rosenblatt Securities restated a “buy” rating and set a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, PTC presently has an average rating of “Moderate Buy” and a consensus price target of $204.83.

PTC Trading Up 1.5 %

Shares of NASDAQ:PTC opened at $192.83 on Thursday. The company’s 50-day moving average price is $180.03 and its two-hundred day moving average price is $178.31. PTC has a one year low of $148.01 and a one year high of $199.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $23.17 billion, a PE ratio of 62.00, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17.

Insider Transactions at PTC

In related news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the sale, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.17% of the stock is owned by corporate insiders.

Institutional Trading of PTC

A number of institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. raised its position in shares of PTC by 77.5% in the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after buying an additional 62 shares in the last quarter. Blue Trust Inc. lifted its position in shares of PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the period. Rothschild Investment LLC acquired a new stake in shares of PTC during the 2nd quarter worth $29,000. International Assets Investment Management LLC bought a new position in shares of PTC in the second quarter worth $30,000. Finally, OFI Invest Asset Management acquired a new position in PTC in the second quarter valued at about $31,000. Institutional investors own 95.14% of the company’s stock.

About PTC

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.