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

PTC (NASDAQ:PTC) had its price target raised by Stifel Nicolaus from $200.00 to $230.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

PTC has been the topic of several other research reports. Robert W. Baird increased their price objective on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Piper Sandler increased 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. JPMorgan Chase & Co. lifted their price target on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $195.00 target price on shares of PTC in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.54.

PTC Price Performance

NASDAQ:PTC opened at $187.58 on Wednesday. PTC has a 12-month low of $163.30 and a 12-month high of $203.09. The firm has a market capitalization of $22.53 billion, a price-to-earnings ratio of 60.32, a P/E/G ratio of 2.70 and a beta of 1.16. The stock’s 50 day moving average price is $192.29 and its two-hundred day moving average price is $181.73. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38.

Insider Transactions at PTC

In related news, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the transaction, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at $4,344,221.91. The trade was a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Alice Christenson sold 1,703 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock valued at $3,630,716 in the last quarter. Insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of PTC by 762.5% in the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. First Horizon Advisors Inc. raised its stake 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 last quarter. Rothschild Investment LLC purchased a new position in PTC during the second quarter valued at $29,000. International Assets Investment Management LLC bought a new stake in PTC in the second quarter worth $30,000. Finally, Covestor Ltd grew its stake in shares of PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.