PTC (NASDAQ:PTC) Stock Price Expected to Rise, Oppenheimer Analyst Says

PTC (NASDAQ:PTC - Free Report) had its price objective hoisted by Oppenheimer from $170.00 to $190.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the technology company's stock.

PTC has been the topic of a number of other reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $160.00 price objective (down from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Stifel Nicolaus reduced their price objective on shares of PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Piper Sandler reduced their price target on shares of PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. KeyCorp lowered their price objective on shares of PTC from $211.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Mizuho reduced their target price on PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, PTC has an average rating of "Moderate Buy" and an average target price of $188.69.

PTC Stock Down 1.0%

Shares of PTC stock traded down $1.68 on Thursday, hitting $169.34. The company's stock had a trading volume of 1,143,604 shares, compared to its average volume of 884,151. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. PTC has a fifty-two week low of $133.38 and a fifty-two week high of $203.09. The firm's fifty day moving average price is $160.41 and its 200-day moving average price is $170.86. The stock 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.

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 firm had revenue of $636.37 million during the quarter, compared to analyst estimates of $608.64 million. PTC had a net margin of 16.95% and a return on equity of 14.49%. The business's revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 EPS. Research analysts anticipate that PTC will post 4.46 EPS for the current year.

Insider Buying and Selling

In other PTC news, Director Corinna Lathan sold 622 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the sale, the director now owns 7,604 shares of the company's stock, valued at approximately $1,182,650.12. This trade represents a 7.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction 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 directly owns 17,731 shares in the company, valued at approximately $2,836,960. This represents a 10.08% 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 Investors Weigh In On PTC

Large investors have recently modified their holdings of the business. Bartlett & CO. Wealth Management LLC bought a new position in shares of PTC in the 1st quarter valued at $26,000. Motco bought a new position in shares of PTC in the 1st quarter valued at $29,000. Aster Capital Management DIFC Ltd bought a new position in shares of PTC in the 4th quarter valued at $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of PTC in the 1st quarter valued at $33,000. Finally, Allworth Financial LP lifted its stake in shares of PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company's stock valued at $35,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

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.