PTC Inc. (NASDAQ:PTC) Receives $204.83 Consensus Price Target from Analysts

Shares of PTC Inc. (NASDAQ:PTC) have received an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $204.83.

Several analysts have weighed in on PTC shares. Robert W. Baird boosted their price target on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada boosted their price target on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price target on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and dropped their price target for the company from $210.00 to $196.00 in a research note on Friday, November 1st.

PTC Stock Up 0.5 %

Shares of PTC stock opened at $200.06 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s fifty day moving average price is $186.73 and its 200 day moving average price is $179.96. The company has a market cap of $24.03 billion, a price-to-earnings ratio of 64.33, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17. PTC has a 1-year low of $154.73 and a 1-year high of $201.66.

Insider Buying and Selling

In related news, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was 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 of the company’s stock, valued at approximately $160,356. This represents a 67.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the transaction, the director now directly owns 6,843 shares of the company’s stock, valued at $1,368,600. The trade was a 11.16 % decrease in their position. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PTC

A number of hedge funds have recently made changes to their positions in PTC. Acadian Asset Management LLC raised its holdings in shares of PTC by 74.7% during the first quarter. Acadian Asset Management LLC now owns 2,047 shares of the technology company’s stock valued at $385,000 after acquiring an additional 875 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of PTC by 22.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,449 shares of the technology company’s stock valued at $841,000 after acquiring an additional 826 shares during the last quarter. Bessemer Group Inc. grew its position in shares of PTC by 19.3% in the first quarter. Bessemer Group Inc. now owns 2,663 shares of the technology company’s stock valued at $504,000 after purchasing an additional 430 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of PTC by 22.2% in the first quarter. Advisors Asset Management Inc. now owns 4,444 shares of the technology company’s stock valued at $840,000 after purchasing an additional 807 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of PTC by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 875,282 shares of the technology company’s stock valued at $165,377,000 after purchasing an additional 40,462 shares in the last quarter. Institutional investors and hedge funds 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.