Brokerages Set PTC Inc. (NASDAQ:PTC) Target Price at $205.92

PTC Inc. (NASDAQ:PTC) has earned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $205.9231.

A number of equities analysts recently issued reports on PTC shares. Piper Sandler dropped their target price on shares of PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Wall Street Zen upgraded shares of PTC from a “buy” rating to a “strong-buy” rating in a research report on Saturday. BMO Capital Markets cut their price objective on shares of PTC from $231.00 to $219.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Zacks Research downgraded PTC from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of PTC in a report on Monday, December 29th.

PTC Trading Up 1.8%

PTC stock opened at $173.11 on Tuesday. PTC has a 52 week low of $133.38 and a 52 week high of $219.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $20.59 billion, a PE ratio of 28.19, a PEG ratio of 2.84 and a beta of 1.01. The business’s 50-day simple moving average is $178.09 and its 200-day simple moving average is $192.82.

PTC (NASDAQ:PTC) last released its earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share (EPS) for the quarter. The firm had revenue of $1.76 billion for the quarter. PTC had a return on equity of 23.02% and a net margin of 27.05%. Equities research analysts forecast that PTC will post 4.46 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Staats Aaron C. Von sold 6,328 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $174.79, for a total value of $1,106,071.12. Following the completion of the transaction, the executive vice president directly owned 22,461 shares of the company’s stock, valued at $3,925,958.19. This trade represents a 21.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kristian Talvitie sold 50,291 shares of PTC stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total transaction of $8,707,383.74. Following the sale, the executive vice president owned 12,386 shares in the company, valued at $2,144,512.04. This represents a 80.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,277 shares of company stock valued at $10,624,076 over the last 90 days. 0.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PTC

A number of institutional investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC bought a new position in shares of PTC during the third quarter valued at $30,000. SJS Investment Consulting Inc. increased its position in shares of PTC by 2,257.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 165 shares of the technology company’s stock worth $34,000 after purchasing an additional 158 shares in the last quarter. Versant Capital Management Inc increased its position in shares of PTC by 37.6% during the 3rd quarter. Versant Capital Management Inc now owns 194 shares of the technology company’s stock worth $39,000 after purchasing an additional 53 shares in the last quarter. Quarry LP lifted its holdings in PTC by 86.2% during the 3rd quarter. Quarry LP now owns 203 shares of the technology company’s stock valued at $41,000 after purchasing an additional 94 shares during the last quarter. Finally, Assetmark Inc. boosted its position in PTC by 339.3% in the second quarter. Assetmark Inc. now owns 268 shares of the technology company’s stock valued at $46,000 after buying an additional 207 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

PTC Company Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.