Piper Sandler Forecasts Strong Price Appreciation for PTC (NASDAQ:PTC) Stock

PTC (NASDAQ:PTC) had its price objective hoisted by Piper Sandler from $182.00 to $202.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price objective suggests a potential upside of 4.76% from the company’s current price.

A number of other research firms also recently commented on PTC. Robert W. Baird upped their price objective on shares of PTC from $216.00 to $226.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Rosenblatt Securities restated a “buy” rating and set a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 price target on shares of PTC in a research report on Thursday, August 1st. Finally, Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $204.83.

PTC Price Performance

Shares of NASDAQ PTC traded up $2.78 during trading on Thursday, hitting $192.83. 1,598,923 shares of the company were exchanged, compared to its average volume of 808,537. The company has a market cap of $23.17 billion, a price-to-earnings ratio of 62.00, a PEG ratio of 2.91 and a beta of 1.17. PTC has a 1 year low of $148.01 and a 1 year high of $199.48. The firm’s fifty day moving average price is $180.03 and its 200 day moving average price is $178.31. 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 (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.05 by $0.11. The business had revenue of $626.55 million for the quarter, compared to analyst estimates of $620.49 million. PTC had a net margin of 16.37% and a return on equity of 14.99%. On average, sell-side analysts expect that PTC will post 4.47 earnings per share for the current fiscal year.

Insider Activity at PTC

In other PTC news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the transaction, the director now directly owns 44,137 shares of the company’s stock, valued at $7,562,433.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.17% of the stock is owned by company insiders.

Institutional Trading of PTC

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its stake in PTC by 762.5% in the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after buying an additional 122 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after buying an additional 62 shares in the last quarter. Rothschild Investment LLC acquired a new stake in PTC in the 2nd quarter valued at $29,000. International Assets Investment Management LLC acquired a new stake in PTC in the 2nd quarter valued at $30,000. Finally, OFI Invest Asset Management acquired a new stake in PTC in the 2nd quarter valued at $31,000. Institutional investors and hedge funds 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.