Robert W. Baird Raises PTC (NASDAQ:PTC) Price Target to $226.00

PTC (NASDAQ:PTC) had its target price upped by Robert W. Baird from $216.00 to $226.00 in a report issued on Tuesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company’s stock.

Several other brokerages also recently weighed in on PTC. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Piper Sandler upped their price target on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and set a $202.00 price target on shares of PTC in a research report on Thursday, August 1st. Finally, StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, PTC has a consensus rating of “Moderate Buy” and an average target price of $201.09.

PTC Price Performance

Shares of PTC stock opened at $183.63 on Tuesday. The stock has a market capitalization of $22.06 billion, a price-to-earnings ratio of 74.95, a price-to-earnings-growth ratio of 2.69 and a beta of 1.17. The company has a fifty day moving average of $177.27 and a 200-day moving average of $177.66. PTC has a 52-week low of $134.61 and a 52-week high of $194.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. PTC had a return on equity of 13.36% and a net margin of 13.32%. The firm had revenue of $518.64 million for the quarter, compared to analysts’ expectations of $533.04 million. Equities research analysts expect that PTC will post 3.51 EPS for the current year.

Insider Buying and Selling at PTC

In other news, Director Robert Schechter sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total value of $858,650.00. Following the completion of the transaction, the director now owns 59,616 shares of the company’s stock, valued at approximately $10,237,855.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Janice Chaffin sold 4,000 shares of PTC 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 directly owns 44,137 shares of the company’s stock, valued at $7,562,433.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert Schechter sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total transaction of $858,650.00. Following the completion of the sale, the director now owns 59,616 shares in the company, valued at approximately $10,237,855.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,000 shares of company stock valued at $1,714,010. 1.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PTC

Several large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its stake in PTC by 2.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,612 shares of the technology company’s stock valued at $807,000 after buying an additional 113 shares during the last quarter. Riverview Trust Co bought a new position in PTC in the 1st quarter worth about $34,000. Wealth Enhancement Advisory Services LLC grew its position in PTC by 61.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,658 shares of the technology company’s stock valued at $1,069,000 after purchasing an additional 2,144 shares during the last quarter. SteelPeak Wealth LLC increased its stake in PTC by 13.2% during the 1st quarter. SteelPeak Wealth LLC now owns 3,878 shares of the technology company’s stock valued at $733,000 after purchasing an additional 451 shares in the last quarter. Finally, MorganRosel Wealth Management LLC purchased a new position in PTC in the first quarter worth about $617,000. 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.