PTC Inc. (NASDAQ:PTC) Receives $207.54 Average Target Price from Brokerages

Shares of PTC Inc. (NASDAQ:PTC) have earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $207.54.

A number of brokerages have weighed in on PTC. Robert W. Baird boosted their target price on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler upped their price objective on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 target price on shares of PTC in a research note on Thursday, October 10th. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and cut their price target for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Finally, Stifel Nicolaus lifted their price objective on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th.

PTC Stock Performance

PTC stock opened at $186.97 on Tuesday. The stock has a 50-day simple moving average of $191.62 and a 200 day simple moving average of $182.93. The stock has a market capitalization of $22.50 billion, a price-to-earnings ratio of 60.12, a P/E/G ratio of 2.47 and a beta of 1.18. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC has a 12-month low of $163.30 and a 12-month high of $203.09.

Insiders Place Their Bets

In other news, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the transaction, the chief accounting officer now owns 830 shares in the company, valued at $160,356. This represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Staats Aaron C. Von sold 5,373 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the completion of the sale, the executive vice president now directly owns 21,707 shares in the company, valued at $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,242 shares of company stock worth $3,630,716. Company insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTC. US Bancorp DE grew its holdings in PTC by 67.7% during the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock valued at $2,559,000 after buying an additional 5,717 shares in the last quarter. Mirabella Financial Services LLP increased its position in shares of PTC by 542.2% in the third quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock valued at $3,640,000 after acquiring an additional 17,465 shares during the period. D1 Capital Partners L.P. bought a new stake in shares of PTC in the 3rd quarter worth approximately $84,549,000. Citigroup Inc. raised its holdings in PTC by 28.4% in the 3rd quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock worth $26,971,000 after purchasing an additional 32,984 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in PTC by 33.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after acquiring an additional 135,677 shares in 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.