JPMorgan Chase & Co. Forecasts Strong Price Appreciation for PTC (NASDAQ:PTC) Stock

PTC (NASDAQ:PTC) had its target price increased by analysts at JPMorgan Chase & Co. from $200.00 to $210.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 4.90% from the stock’s previous close.

PTC has been the subject of several other reports. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and decreased their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Robert W. Baird boosted their target price on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities restated a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Finally, Piper Sandler upped their target price 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. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and a consensus target price of $205.67.

PTC Trading Up 0.4 %

Shares of PTC opened at $200.20 on Monday. The firm’s 50-day moving average price is $187.60 and its 200-day moving average price is $180.18. The firm has a market capitalization of $24.05 billion, a price-to-earnings ratio of 64.37, a PEG ratio of 2.70 and a beta of 1.16. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC has a 1-year low of $157.72 and a 1-year high of $201.66.

Insider Buying and Selling at PTC

In related news, CAO Alice Christenson sold 1,703 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were 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 approximately $11,389,091.56. This trade represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,869 shares of company stock worth $2,555,418 over the last three months. Insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On PTC

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. grew its stake in PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after buying an additional 122 shares during the last quarter. First Horizon Advisors Inc. grew its stake in PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after buying an additional 62 shares during the last quarter. Rothschild Investment LLC bought a new position in PTC during the 2nd quarter worth $29,000. International Assets Investment Management LLC bought a new position in PTC during the 2nd quarter worth $30,000. Finally, OFI Invest Asset Management bought a new position in PTC during the 2nd quarter worth $31,000. 95.14% of the stock is owned by institutional investors and hedge funds.

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.