PTC (NASDAQ:PTC) Given New $230.00 Price Target at Royal Bank of Canada

PTC (NASDAQ:PTC) had its price target hoisted by Royal Bank of Canada from $202.00 to $230.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other research analysts have also recently weighed in on PTC. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and reduced their target price for the company from $210.00 to $196.00 in a report on Friday, November 1st. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price target on shares of PTC in a report on Thursday, October 10th. Robert W. Baird upped their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Piper Sandler lifted their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.83.

PTC Stock Up 1.5 %

PTC stock traded up $2.78 during mid-day trading on Thursday, reaching $192.83. 1,598,899 shares of the company traded hands, compared to its average volume of 808,537. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average price is $179.76 and its 200 day moving average price is $178.21. The stock has a market cap of $23.17 billion, a price-to-earnings ratio of 61.97, a P/E/G ratio of 2.91 and a beta of 1.17. PTC has a fifty-two week low of $148.01 and a fifty-two week high of $199.48.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, November 6th. The technology company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.11. The company had revenue of $626.55 million for the quarter, compared to analysts’ expectations of $620.49 million. PTC had a return on equity of 14.99% and a net margin of 16.37%. As a group, equities research analysts predict that PTC will post 4.47 EPS for the current fiscal year.

Insider Buying and Selling at PTC

In other news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the sale, the director now directly owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On PTC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its holdings in shares of PTC by 2.6% during the first quarter. Commonwealth Equity Services LLC now owns 3,609 shares of the technology company’s stock worth $682,000 after purchasing an additional 93 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of PTC during the 1st quarter valued at $212,000. Janney Montgomery Scott LLC bought a new stake in shares of PTC during the 1st quarter worth $215,000. Nordea Investment Management AB grew its position in PTC by 3.6% in the first quarter. Nordea Investment Management AB now owns 9,240 shares of the technology company’s stock worth $1,748,000 after acquiring an additional 322 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in PTC by 0.7% in the first quarter. Texas Permanent School Fund Corp now owns 24,720 shares of the technology company’s stock valued at $4,671,000 after acquiring an additional 177 shares during the last quarter. 95.14% of the stock is currently 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.