PTC (PTC) Given New $80.00 Price Target at Royal Bank of Canada
PTC (NASDAQ:PTC) had its price target raised by Royal Bank of Canada to $80.00 in a report released on Thursday. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.
Other analysts have also issued reports about the company. Wedbush reaffirmed an outperform rating and issued a $57.00 price target on shares of PTC in a research note on Thursday, October 5th. Bank of America began coverage on PTC in a research note on Monday, November 6th. They issued an underperform rating and a $60.00 price target on the stock. JPMorgan Chase & Co. lowered PTC from an overweight rating to a neutral rating and set a $68.00 price target on the stock. in a research note on Tuesday, December 12th. BidaskClub raised PTC from a buy rating to a strong-buy rating in a research note on Wednesday, October 25th. Finally, Robert W. Baird set a $65.00 price target on PTC and gave the stock a buy rating in a research note on Friday, October 6th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $70.81.
Shares of PTC (PTC) traded up $1.51 on Thursday, reaching $71.46. The company’s stock had a trading volume of 2,175,943 shares, compared to its average volume of 1,223,992. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.98 and a current ratio of 0.98. PTC has a one year low of $49.12 and a one year high of $74.88. The firm has a market capitalization of $8,300.00, a price-to-earnings ratio of 297.75 and a beta of 1.34.
In other PTC news, insider James E. Heppelmann sold 25,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $64.58, for a total transaction of $1,614,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Staats Aaron C. Von sold 9,947 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $64.67, for a total value of $643,272.49. The disclosure for this sale can be found here. Insiders have sold 55,924 shares of company stock worth $3,627,304 in the last three months. 1.11% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new position in PTC during the fourth quarter worth $510,000. Oakbrook Investments LLC boosted its stake in PTC by 19.1% during the fourth quarter. Oakbrook Investments LLC now owns 9,470 shares of the technology company’s stock worth $575,000 after buying an additional 1,520 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in PTC by 2.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 472,552 shares of the technology company’s stock worth $28,717,000 after buying an additional 11,110 shares during the last quarter. Bank of Montreal Can boosted its stake in PTC by 120.4% during the fourth quarter. Bank of Montreal Can now owns 16,212 shares of the technology company’s stock worth $985,000 after buying an additional 8,857 shares during the last quarter. Finally, AXA boosted its stake in PTC by 15.9% during the third quarter. AXA now owns 1,161,468 shares of the technology company’s stock worth $65,367,000 after buying an additional 159,329 shares during the last quarter.
TRADEMARK VIOLATION WARNING: This piece was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.thecerbatgem.com/2018/01/19/ptc-ptc-given-new-80-00-price-target-at-royal-bank-of-canada.html.
PTC Company Profile
PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.
Receive News & Ratings for PTC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC and related companies with MarketBeat.com's FREE daily email newsletter.