PTC (NASDAQ:PTC) Price Target Raised to $210.00 at Oppenheimer

PTC (NASDAQ:PTC - Free Report) had its target price upped by Oppenheimer from $190.00 to $210.00 in a research note released on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company's stock.

PTC has been the subject of a number of other research reports. Barclays increased their price target on shares of PTC from $175.00 to $203.00 and gave the company an "overweight" rating in a report on Monday. Piper Sandler cut their price target on shares of PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Stifel Nicolaus cut their price target on shares of PTC from $230.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wall Street Zen downgraded shares of PTC from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $160.00 target price (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.92.

PTC Stock Up 0.9%

PTC traded up $1.74 during trading hours on Wednesday, hitting $198.74. 253,839 shares of the company's stock were exchanged, compared to its average volume of 1,083,711. PTC has a 12-month low of $133.38 and a 12-month high of $213.14. The firm has a 50 day moving average of $173.83 and a 200 day moving average of $168.34. The firm has a market cap of $23.84 billion, a P/E ratio of 54.61, a price-to-earnings-growth ratio of 2.64 and a beta of 1.17. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.40.

PTC (NASDAQ:PTC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.42. PTC had a net margin of 18.77% and a return on equity of 15.35%. The business had revenue of $636.37 million during the quarter, compared to analysts' expectations of $608.64 million. During the same quarter in the prior year, the business posted $1.46 EPS. The company's revenue for the quarter was up 5.5% on a year-over-year basis. Analysts predict that PTC will post 4.46 EPS for the current fiscal year.

Insider Activity

In other news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the sale, the executive vice president owned 17,731 shares in the company, valued at $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of PTC

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC acquired a new position in shares of PTC during the first quarter valued at $26,000. Motco acquired a new position in shares of PTC during the first quarter valued at $29,000. Aster Capital Management DIFC Ltd acquired a new position in shares of PTC during the fourth quarter valued at $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of PTC during the first quarter valued at $33,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of PTC during the first quarter valued at $39,000. 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.