PTC (NASDAQ:PTC) Price Target Raised to $210.00 at JPMorgan Chase & Co.

PTC (NASDAQ:PTC) had its price objective lifted by research analysts at JPMorgan Chase & Co. from $200.00 to $210.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 4.97% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada increased their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird increased their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Piper Sandler lifted their price objective on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and lowered their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and an average price target of $205.67.

PTC Trading Up 0.5 %

PTC stock traded up $1.05 during midday trading on Monday, reaching $200.06. The company’s stock had a trading volume of 340,023 shares, compared to its average volume of 807,332. The stock has a market cap of $24.03 billion, a PE ratio of 64.33, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17. The business’s 50-day simple moving average is $186.73 and its 200-day simple moving average is $179.96. 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 52 week low of $154.73 and a 52 week high of $201.66.

Insider Buying and Selling at PTC

In other PTC 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 transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now directly owns 830 shares in the company, valued at $160,356. This represents a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction 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 approximately $1,368,600. The trade was a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by corporate insiders.

Institutional Trading of PTC

Hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in shares of PTC by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock worth $203,463,000 after buying an additional 30,525 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of PTC by 48.7% during the third quarter. Sanctuary Advisors LLC now owns 4,265 shares of the technology company’s stock worth $843,000 after acquiring an additional 1,397 shares during the period. Toronto Dominion Bank grew its stake in shares of PTC by 46.1% during the 3rd quarter. Toronto Dominion Bank now owns 59,294 shares of the technology company’s stock worth $10,712,000 after acquiring an additional 18,713 shares in the last quarter. TT International Asset Management LTD acquired a new stake in shares of PTC in the third quarter valued at about $1,143,000. Finally, Geode Capital Management LLC increased its stake in shares of PTC by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock worth $533,341,000 after purchasing an additional 37,645 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.