Robert W. Baird Forecasts Strong Price Appreciation for PTC (NASDAQ:PTC) Stock

PTC (NASDAQ:PTC) had its target price raised by equities research analysts at Robert W. Baird from $226.00 to $228.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price objective points to a potential upside of 18.24% from the company’s previous close.

Other analysts have also issued research reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 price objective on shares of PTC in a research note on Thursday, August 1st. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and reduced their price objective for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Finally, Piper Sandler boosted their price target on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.83.

PTC Stock Performance

Shares of PTC stock opened at $192.83 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. PTC has a one year low of $148.01 and a one year high of $199.48. The business’s 50 day simple moving average is $180.03 and its 200 day simple moving average is $178.31. The stock has a market capitalization of $23.17 billion, a PE ratio of 62.00, a PEG ratio of 2.91 and a beta of 1.17.

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

Insider Activity

In related 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 transaction of $685,360.00. Following the completion of the transaction, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

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