PTC (NASDAQ:PTC) Price Target Raised to $80.00

PTC (NASDAQ:PTC) had its target price boosted by Citigroup from $75.00 to $80.00 in a research report released on Friday morning, BenzingaRatingsTable reports. Citigroup currently has a neutral rating on the technology company’s stock.

Several other brokerages have also recently weighed in on PTC. Royal Bank of Canada restated a sector perform rating and issued a $83.00 price target on shares of PTC in a research report on Thursday. Rosenblatt Securities restated a buy rating and issued a $105.00 price target on shares of PTC in a research report on Thursday. Robert W. Baird boosted their price target on shares of PTC from $95.00 to $105.00 and gave the stock an outperform rating in a research report on Thursday. Evercore ISI restated a buy rating and issued a $104.00 price target on shares of PTC in a research report on Sunday, November 24th. Finally, Barclays reiterated a buy rating and set a $91.00 price objective on shares of PTC in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $93.57.

Shares of PTC stock traded down $2.36 on Friday, hitting $83.69. 8,268 shares of the company traded hands, compared to its average volume of 742,377. The stock has a market capitalization of $9.65 billion, a P/E ratio of 214.93 and a beta of 1.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.23 and a current ratio of 1.23. PTC has a 52 week low of $62.05 and a 52 week high of $102.47. The business has a 50-day simple moving average of $76.49 and a 200 day simple moving average of $72.36.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, January 22nd. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.13. The firm had revenue of $356.10 million for the quarter, compared to analysts’ expectations of $342.74 million. PTC had a net margin of 3.38% and a return on equity of 13.16%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. Research analysts expect that PTC will post 1.53 earnings per share for the current year.

In other PTC news, CEO James E. Heppelmann sold 25,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $74.65, for a total transaction of $1,866,250.00. Also, EVP Kathleen Mitford sold 340 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $76.50, for a total transaction of $26,010.00. Following the sale, the executive vice president now directly owns 20,592 shares of the company’s stock, valued at $1,575,288. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,203 shares of company stock valued at $1,958,626. 10.13% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. increased its holdings in PTC by 270.5% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 515 shares of the technology company’s stock worth $39,000 after buying an additional 376 shares during the period. HM Payson & Co. acquired a new position in PTC in the 2nd quarter worth approximately $45,000. Point72 Asset Management L.P. acquired a new position in PTC in the 3rd quarter worth approximately $109,000. Cerebellum GP LLC acquired a new position in PTC in the 3rd quarter worth approximately $128,000. Finally, Tower Research Capital LLC TRC increased its holdings in PTC by 39.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,087 shares of the technology company’s stock worth $211,000 after buying an additional 878 shares during the period. Hedge funds and other institutional investors own 86.31% of the company’s stock.

PTC Company Profile

PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

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Analyst Recommendations for PTC (NASDAQ:PTC)

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