PTC (NASDAQ:PTC) Price Target Cut to $180.00 by Analysts at Piper Sandler

PTC (NASDAQ:PTC - Get Free Report) had its price objective dropped by research analysts at Piper Sandler from $202.00 to $180.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the technology company's stock. Piper Sandler's price target would suggest a potential upside of 16.15% from the company's current price.

Several other research firms have also recently commented on PTC. JPMorgan Chase & Co. reissued a "neutral" rating and set a $160.00 price target (down from $210.00) on shares of PTC in a research note on Wednesday, April 9th. BMO Capital Markets lifted their target price on PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a report on Thursday. Rosenblatt Securities reissued a "buy" rating and issued a $204.00 price target on shares of PTC in a research note on Thursday. Citigroup reduced their price objective on shares of PTC from $200.00 to $195.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Finally, Robert W. Baird upped their price objective on PTC from $181.00 to $185.00 and gave the company an "outperform" rating in a research note on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $189.00.

PTC Price Performance

Shares of NASDAQ:PTC opened at $154.97 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The firm has a market cap of $18.65 billion, a price-to-earnings ratio of 47.83, a P/E/G ratio of 2.27 and a beta of 1.17. PTC has a 1 year low of $133.38 and a 1 year high of $203.09. The business has a fifty day simple moving average of $153.69 and a 200 day simple moving average of $175.74.

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

Insider Activity at PTC

In other news, Director Corinna Lathan sold 622 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the sale, the director now directly owns 7,604 shares of the company's stock, valued at $1,182,650.12. This represents a 7.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. increased its holdings in PTC by 11.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company's stock worth $3,174,432,000 after acquiring an additional 1,773,653 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of PTC in the 4th quarter worth about $146,712,000. Norges Bank purchased a new position in shares of PTC in the 4th quarter worth approximately $128,852,000. GAMMA Investing LLC lifted its holdings in shares of PTC by 13,184.0% in the 1st quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company's stock worth $53,517,000 after acquiring an additional 342,784 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of PTC during the 4th quarter worth approximately $59,506,000. 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.

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