PTC (NASDAQ:PTC) Given New $220.00 Price Target at Stifel Nicolaus

Key Points

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PTC (NASDAQ:PTC - Free Report) had its price objective upped by Stifel Nicolaus from $200.00 to $220.00 in a research note published on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the technology company's stock.

PTC has been the topic of a number of other research reports. Mizuho lowered their price objective on shares of PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Piper Sandler lifted their price target on shares of PTC from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday. Barclays set a $233.00 price target on shares of PTC in a research report on Thursday. Robert W. Baird lifted their price target on shares of PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Oppenheimer lifted their price target on shares of PTC from $225.00 to $240.00 and gave the stock an "outperform" rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $202.14.

PTC Price Performance

Shares of NASDAQ PTC traded down $2.70 during mid-day trading on Thursday, reaching $212.11. 1,598,374 shares of the company traded hands, compared to its average volume of 1,547,054. PTC has a fifty-two week low of $133.38 and a fifty-two week high of $219.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 0.99. The firm has a market cap of $25.44 billion, a PE ratio of 50.03, a price-to-earnings-growth ratio of 2.92 and a beta of 1.17. The stock has a fifty day simple moving average of $181.28 and a 200-day simple moving average of $169.88.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.42. PTC had a net margin of 20.74% and a return on equity of 17.09%. The business had revenue of $643.94 million for the quarter, compared to analyst estimates of $582.12 million. During the same quarter last year, the business earned $0.98 earnings per share. The business's revenue for the quarter was up 24.2% on a year-over-year basis. Equities research analysts anticipate that PTC will post 4.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other PTC 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 transaction of $318,080.00. Following the transaction, the executive vice president directly owned 17,731 shares in the company, valued at approximately $2,836,960. The trade was a 10.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.32% of the company's stock.

Hedge Funds Weigh In On PTC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its position in PTC by 17.7% during the 1st 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 purchasing an additional 3,048,311 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of PTC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 14,332,180 shares of the technology company's stock valued at $2,220,771,000 after buying an additional 39,688 shares during the period. Geode Capital Management LLC boosted its stake in shares of PTC by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company's stock valued at $555,626,000 after buying an additional 67,504 shares during the period. Pictet Asset Management Holding SA boosted 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 valued at $445,687,000 after buying an additional 844,418 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of PTC by 1.9% during the 1st quarter. Wellington Management Group LLP now owns 2,370,972 shares of the technology company's stock valued at $367,382,000 after buying an additional 44,961 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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.