Robert W. Baird Reiterates “In-Line” Rating for PTC (PTC)
Robert W. Baird reaffirmed their in-line rating on shares of PTC (NASDAQ:PTC) in a research report report published on Thursday. They currently have a $95.00 target price on the technology company’s stock, up from their previous target price of $83.00.
A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut PTC from a hold rating to a sell rating in a research note on Wednesday, January 24th. Royal Bank of Canada boosted their price objective on PTC to $80.00 and gave the company an outperform rating in a research note on Thursday, January 18th. BidaskClub upgraded PTC from a buy rating to a strong-buy rating in a research note on Saturday, February 17th. Citigroup boosted their price objective on PTC to $78.00 and gave the company a buy rating in a research note on Thursday, January 18th. Finally, Barclays boosted their price objective on PTC from $69.00 to $77.00 and gave the company an overweight rating in a research note on Thursday, January 18th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. PTC has an average rating of Buy and an average target price of $76.93.
PTC stock opened at $84.05 on Thursday. The company has a market cap of $9,874.87, a P/E ratio of 113.58, a price-to-earnings-growth ratio of 3.04 and a beta of 1.33. PTC has a fifty-two week low of $51.02 and a fifty-two week high of $86.49. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.97 and a quick ratio of 1.03.
In related news, EVP Anthony Dibona sold 5,464 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $73.97, for a total transaction of $404,172.08. Following the transaction, the executive vice president now owns 36,317 shares of the company’s stock, valued at $2,686,368.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Staats Aaron C. Von sold 7,500 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $73.76, for a total value of $553,200.00. The disclosure for this sale can be found here. Insiders have sold 37,964 shares of company stock valued at $2,765,872 in the last 90 days. Company insiders own 1.19% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PTC. Carillon Tower Advisers Inc. acquired a new position in PTC during the fourth quarter worth $114,935,000. Renaissance Technologies LLC grew its holdings in PTC by 441.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,088,600 shares of the technology company’s stock worth $66,154,000 after acquiring an additional 887,400 shares during the period. Deutsche Bank AG grew its holdings in PTC by 114.3% during the fourth quarter. Deutsche Bank AG now owns 722,059 shares of the technology company’s stock worth $43,876,000 after acquiring an additional 385,198 shares during the period. Lazard Asset Management LLC grew its holdings in PTC by 32.1% during the fourth quarter. Lazard Asset Management LLC now owns 1,438,819 shares of the technology company’s stock worth $87,437,000 after acquiring an additional 349,609 shares during the period. Finally, AXA grew its holdings in PTC by 25.0% during the fourth quarter. AXA now owns 1,451,610 shares of the technology company’s stock worth $88,214,000 after acquiring an additional 290,142 shares during the period.
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PTC Company Profile
PTC Inc develops and delivers software products and solutions worldwide. It operates through three segments: IoT Group, Solutions Group, and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things (IoT) applications and augmented reality (AR) experiences; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
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