Brokerages Set PTC Inc. (NASDAQ:PTC) Target Price at $192.08

PTC Inc. (NASDAQ:PTC) has received an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $190.38.

Several analysts recently issued reports on PTC shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $160.00 target price (down previously from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Oppenheimer decreased their price target on shares of PTC from $210.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday. KeyCorp reduced their target price on PTC from $211.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Finally, Mizuho lowered their target price on PTC from $190.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th.

Insider Buying and Selling at PTC

In other news, Director Corinna Lathan sold 622 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the transaction, the director now directly owns 7,604 shares in the company, valued at approximately $1,182,650.12. This represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On PTC

A number of hedge funds have recently added to or reduced their stakes in PTC. Bartlett & CO. Wealth Management LLC bought a new stake in shares of PTC in the first quarter valued at about $26,000. Aster Capital Management DIFC Ltd bought a new position in PTC in the fourth quarter worth approximately $30,000. Allworth Financial LP lifted its holdings in PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after buying an additional 69 shares during the period. UMB Bank n.a. increased its holdings in shares of PTC by 153.4% in the 1st quarter. UMB Bank n.a. now owns 294 shares of the technology company’s stock valued at $46,000 after acquiring an additional 178 shares during the period. Finally, Pinney & Scofield Inc. purchased a new stake in shares of PTC during the 4th quarter worth $47,000. 95.14% of the stock is currently owned by institutional investors.

PTC Trading Up 1.6 %

Shares of PTC stock opened at $154.03 on Thursday. PTC has a 1 year low of $133.38 and a 1 year high of $203.09. The firm has a fifty day moving average price of $154.42 and a 200-day moving average price of $176.28. The company has a market cap of $18.53 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 2.27 and a beta of 1.17. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. As a group, equities analysts predict that PTC will post 4.46 earnings per share for the current year.

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.