PTC Inc. (NASDAQ:PTC) Receives $188.69 Consensus PT from Analysts

PTC Inc. (NASDAQ:PTC - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $188.69.

PTC has been the topic of several recent research reports. Piper Sandler reduced their price target on PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. reissued a "neutral" rating and set a $160.00 price target (down previously from $210.00) on shares of PTC in a research report on Wednesday, April 9th. KeyCorp decreased their target price on PTC from $211.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Rosenblatt Securities reissued a "buy" rating and set a $204.00 price target on shares of PTC in a report on Thursday, May 1st. Finally, Robert W. Baird increased their price objective on shares of PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st.

Insider Buying and Selling

In related 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 value of $318,080.00. Following the completion of the sale, the executive vice president now owns 17,731 shares in the company, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Corinna Lathan sold 622 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the completion of the sale, the director now directly owns 7,604 shares in the company, valued at approximately $1,182,650.12. This trade represents a 7.56% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of PTC

A number of large investors have recently bought and sold shares of PTC. T. Rowe Price Investment Management Inc. increased its stake in shares of PTC by 17.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company's stock worth $3,147,478,000 after acquiring an additional 3,048,311 shares during the period. Nuveen LLC purchased a new position in PTC in the 1st quarter valued at approximately $241,789,000. Pictet Asset Management Holding SA raised its stake in shares of PTC by 41.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock worth $445,687,000 after buying an additional 844,418 shares during the last quarter. Raymond James Financial Inc. acquired a new position in PTC during the fourth quarter worth about $146,712,000. Finally, Norges Bank purchased a new stake in PTC in the 4th quarter valued at approximately $128,852,000. Institutional investors and hedge funds own 95.14% of the company's stock.

PTC Price Performance

PTC stock traded down $1.68 during trading on Friday, reaching $169.34. 1,143,604 shares of the company were exchanged, compared to its average volume of 880,792. PTC has a twelve month low of $133.38 and a twelve month high of $203.09. The company has a market capitalization of $20.31 billion, a price-to-earnings ratio of 52.27, a P/E/G ratio of 2.27 and a beta of 1.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The company has a 50-day moving average of $159.76 and a two-hundred day moving average of $171.26.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.42. The firm had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. PTC had a return on equity of 14.49% and a net margin of 16.95%. The business's revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.46 EPS. As a group, equities analysts predict that PTC will post 4.46 earnings per share for the current fiscal year.

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.