PTC (NASDAQ:PTC) Price Target Raised to $230.00 at Stifel Nicolaus

PTC (NASDAQ:PTC) had its price target boosted by Stifel Nicolaus from $200.00 to $230.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 18.56% from the company’s current price.

Several other research analysts have also recently weighed in on PTC. Rosenblatt Securities restated a “buy” rating and issued a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Berenberg Bank cut shares of 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. JPMorgan Chase & Co. upped their price objective on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Piper Sandler upped their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird upped their price objective on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $207.54.

PTC Price Performance

Shares of PTC stock traded down $2.90 during trading on Wednesday, hitting $194.00. The company had a trading volume of 179,332 shares, compared to its average volume of 796,176. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The stock’s 50-day moving average is $191.88 and its two-hundred day moving average is $181.54. The stock has a market capitalization of $23.31 billion, a price-to-earnings ratio of 62.40, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16. PTC has a 52 week low of $163.30 and a 52 week high of $203.09.

Insider Activity

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the sale, the executive vice president now owns 21,707 shares of the company’s stock, valued at $4,344,221.91. This trade represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kristian Talvitie sold 10,306 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the completion of the sale, the chief financial officer now directly owns 57,134 shares of the company’s stock, valued at $11,389,091.56. The trade was a 15.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,242 shares of company stock valued at $3,630,716. 1.17% of the stock is currently owned by company insiders.

Institutional Trading of PTC

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its position in PTC by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock valued at $1,865,000 after buying an additional 61 shares during the period. First Horizon Advisors Inc. lifted its position in PTC by 77.5% during the second 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 during the period. IFM Investors Pty Ltd lifted its position in PTC by 0.3% during the third quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock valued at $4,690,000 after buying an additional 66 shares during the period. Metis Global Partners LLC lifted its position in PTC by 1.1% during the third quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company’s stock valued at $1,202,000 after buying an additional 73 shares during the period. Finally, Signaturefd LLC lifted its position in PTC by 9.3% during the third quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock valued at $162,000 after buying an additional 76 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.