Barclays Boosts PTC (NASDAQ:PTC) Price Target to $215.00

PTC (NASDAQ:PTC - Free Report) had its target price raised by Barclays from $198.00 to $215.00 in a research report report published on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company's stock.

Several other equities research analysts also recently weighed in on the company. Mizuho raised their price objective on PTC from $200.00 to $210.00 and gave the company a buy rating in a report on Thursday, February 1st. Rosenblatt Securities raised their price objective on PTC from $166.00 to $195.00 and gave the company a buy rating in a report on Thursday, February 1st. KeyCorp raised their price objective on PTC from $190.00 to $205.00 and gave the company an overweight rating in a report on Thursday, February 1st. Royal Bank of Canada reissued an outperform rating and set a $202.00 price objective on shares of PTC in a report on Thursday, February 1st. Finally, BMO Capital Markets raised their price objective on PTC from $195.00 to $200.00 and gave the company an outperform rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, PTC has a consensus rating of Moderate Buy and a consensus target price of $196.73.

PTC Price Performance

Shares of PTC stock traded up $0.35 during trading hours on Thursday, reaching $182.27. The company's stock had a trading volume of 671,671 shares, compared to its average volume of 834,728. The firm's 50 day simple moving average is $183.66 and its 200-day simple moving average is $166.98. The company has a market capitalization of $21.79 billion, a price-to-earnings ratio of 92.80, a PEG ratio of 3.33 and a beta of 1.17. PTC has a fifty-two week low of $120.62 and a fifty-two week high of $194.24. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.80.

PTC (NASDAQ:PTC - Get Free Report) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. The firm had revenue of $550.21 million for the quarter, compared to the consensus estimate of $538.59 million. PTC had a return on equity of 12.87% and a net margin of 10.86%. Sell-side analysts forecast that PTC will post 3.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO James E. Heppelmann sold 35,000 shares of PTC stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the transaction, the chief executive officer now directly owns 968,357 shares of the company's stock, valued at approximately $171,631,594.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Catherine Kniker sold 1,330 shares of PTC stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the completion of the transaction, the insider now directly owns 13,864 shares of the company's stock, valued at approximately $2,489,835.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James E. Heppelmann sold 35,000 shares of PTC stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the transaction, the chief executive officer now directly owns 968,357 shares of the company's stock, valued at $171,631,594.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,415 shares of company stock valued at $6,457,478. 1.17% of the stock is currently owned by company insiders.

Institutional Trading of PTC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTC. Metis Global Partners LLC boosted its stake in PTC by 24.4% during the 3rd quarter. Metis Global Partners LLC now owns 5,783 shares of the technology company's stock valued at $819,000 after purchasing an additional 1,133 shares during the last quarter. Silverberg Bernstein Capital Management LLC acquired a new position in PTC during the 4th quarter valued at about $9,647,000. Ballentine Partners LLC boosted its stake in PTC by 786.0% during the 4th quarter. Ballentine Partners LLC now owns 15,336 shares of the technology company's stock valued at $2,683,000 after purchasing an additional 13,605 shares during the last quarter. Wellington Management Group LLP boosted its stake in PTC by 153.9% during the 3rd quarter. Wellington Management Group LLP now owns 111,340 shares of the technology company's stock valued at $15,775,000 after purchasing an additional 67,493 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in PTC by 3.7% during the 4th quarter. Nordea Investment Management AB now owns 8,918 shares of the technology company's stock valued at $1,562,000 after purchasing an additional 320 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

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.