Barclays Raises PTC (NASDAQ:PTC) Price Target to $203.00

PTC (NASDAQ:PTC - Free Report) had its target price hoisted by Barclays from $175.00 to $203.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the technology company's stock.

A number of other equities analysts have also commented on PTC. JPMorgan Chase & Co. restated a "neutral" rating and issued a $160.00 price objective (down from $210.00) on shares of PTC in a research report on Wednesday, April 9th. BMO Capital Markets lifted their target price on shares of PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Piper Sandler dropped their target price on shares of PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus dropped their target price on shares of PTC from $230.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Oppenheimer restated a "cautious" rating on shares of PTC in a research report on Thursday, June 12th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $192.92.

PTC Stock Up 1.0%

Shares of PTC stock traded up $1.97 on Monday, hitting $194.19. The stock had a trading volume of 910,481 shares, compared to its average volume of 935,705. The business has a 50 day moving average of $172.52 and a 200 day moving average of $168.06. The stock has a market cap of $23.29 billion, a price-to-earnings ratio of 53.35, a price-to-earnings-growth ratio of 2.63 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99. PTC has a 12-month low of $133.38 and a 12-month high of $213.14.

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

Insider Activity at PTC

In related news, EVP Staats Aaron C. Von sold 1,988 shares of PTC 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 transaction, the executive vice president directly owned 17,731 shares of the company's stock, valued at $2,836,960. The trade was a 10.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in PTC by 1,140.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the technology company's stock worth $84,000 after purchasing an additional 422 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in PTC by 27.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 1,860 shares of the technology company's stock worth $342,000 after purchasing an additional 399 shares in the last quarter. Avantax Advisory Services Inc. bought a new position in PTC in the 4th quarter worth $223,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in PTC in the 4th quarter worth $522,000. Finally, Commonwealth Equity Services LLC grew its position in shares of PTC by 16.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,632 shares of the technology company's stock worth $668,000 after buying an additional 523 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.