PTC (NASDAQ:PTC) Price Target Raised to $200.00 at Piper Sandler

Key Points

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PTC (NASDAQ:PTC - Free Report) had its target price raised by Piper Sandler from $180.00 to $200.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the technology company's stock.

PTC has been the topic of several other research reports. BMO Capital Markets upped their target price on PTC from $187.00 to $231.00 and gave the company an "outperform" rating in a report on Thursday. Cantor Fitzgerald set a $120.00 target price on PTC and gave the company an "overweight" rating in a report on Tuesday. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $160.00 target price (down previously from $210.00) on shares of PTC in a report on Wednesday, April 9th. Oppenheimer increased their price objective on PTC from $225.00 to $240.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Barclays set a $233.00 price objective on PTC in a research note on Thursday. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $202.14.

PTC Price Performance

PTC stock traded down $2.70 on Thursday, reaching $212.11. 1,598,374 shares of the company's stock were exchanged, compared to its average volume of 1,547,054. The stock has a fifty day moving average of $181.28 and a 200-day moving average of $169.88. PTC has a twelve month low of $133.38 and a twelve month high of $219.69. The firm has a market cap of $25.44 billion, a PE ratio of 50.03, a P/E/G ratio of 2.92 and a beta of 1.17. The company has a quick ratio of 0.99, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.42. The company had revenue of $643.94 million for the quarter, compared to analyst estimates of $582.12 million. PTC had a return on equity of 17.09% and a net margin of 20.74%. PTC's revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. As a group, equities 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 the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the sale, the executive vice president owned 17,731 shares in the company, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company's stock.

Institutional Investors Weigh In On PTC

Large investors have recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of PTC in the first quarter valued at about $26,000. Motco acquired a new stake in PTC during the 1st quarter valued at approximately $29,000. Aster Capital Management DIFC Ltd acquired a new stake in PTC during the 4th quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in PTC during the 1st quarter valued at approximately $33,000. Finally, Zions Bancorporation National Association UT acquired a new stake in PTC during the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds 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.