Brokerages Set PTC Inc. (NASDAQ:PTC) PT at $200.18

PTC Inc. (NASDAQ:PTC) has been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $200.18.

Several equities research analysts have commented on PTC shares. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada restated an “outperform” rating and issued a $202.00 target price on shares of PTC in a research note on Thursday, August 1st. Mizuho restated a “neutral” rating and issued a $190.00 target price (down previously from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Rosenblatt Securities boosted their target price on PTC from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Piper Sandler boosted their target price on PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st.

Insiders Place Their Bets

In related news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the transaction, the director now directly owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total value of $170,000.00. Following the completion of the sale, the executive vice president now directly owns 13,902 shares in the company, valued at approximately $2,363,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the sale, the director now owns 44,137 shares of the company’s stock, valued at $7,562,433.58. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock valued at $2,431,330 in the last 90 days. 1.17% of the stock is currently owned by insiders.

Institutional Trading of PTC

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of PTC by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock valued at $2,596,209,000 after acquiring an additional 205,673 shares during the period. Wellington Management Group LLP lifted its position in shares of PTC by 1,409.3% during the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock valued at $294,006,000 after acquiring an additional 1,569,081 shares during the period. Franklin Resources Inc. lifted its position in shares of PTC by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 1,192,272 shares of the technology company’s stock valued at $208,600,000 after acquiring an additional 13,468 shares during the period. Impax Asset Management Group plc lifted its position in shares of PTC by 4.4% during the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock valued at $206,091,000 after acquiring an additional 48,553 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of PTC by 18.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,066,671 shares of the technology company’s stock valued at $201,537,000 after acquiring an additional 166,112 shares during the period. 95.14% of the stock is currently owned by institutional investors.

PTC Trading Up 0.8 %

NASDAQ:PTC opened at $172.23 on Wednesday. PTC has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $20.69 billion, a PE ratio of 72.06, a price-to-earnings-growth ratio of 3.14 and a beta of 1.18. The business’s 50-day simple moving average is $174.74 and its 200-day simple moving average is $178.89.

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.