PTC (NASDAQ:PTC) Stock Price Expected to Rise, KeyCorp Analyst Says

PTC (NASDAQ:PTC) had its price target upped by equities research analysts at KeyCorp from $205.00 to $211.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price indicates a potential upside of 24.84% from the company’s current price.

PTC has been the subject of a number of other research reports. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and decreased their price objective for the company from $210.00 to $196.00 in a report on Friday, November 1st. Robert W. Baird increased their price objective on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Stifel Nicolaus raised their target price on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. raised their target price 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. Finally, Piper Sandler increased their price target on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Trading Down 1.5 %

Shares of NASDAQ PTC opened at $169.02 on Thursday. PTC has a 1-year low of $163.30 and a 1-year high of $203.09. The company has a market cap of $20.34 billion, a PE ratio of 54.35, a P/E/G ratio of 2.62 and a beta of 1.19. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average of $189.94 and a two-hundred day moving average of $183.65.

PTC (NASDAQ:PTC) last announced its 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 14.63% and a net margin of 16.37%. As a group, equities analysts expect that PTC will post 4.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Corinna Lathan sold 860 shares of PTC stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the sale, the director now directly owns 6,843 shares in the company, valued at $1,368,600. This trade represents a 11.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares in the company, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,242 shares of company stock valued at $3,630,716. 0.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of PTC during the 4th quarter valued at $146,712,000. Fernbridge Capital Management LP grew its stake in shares of PTC by 83.7% in the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after acquiring an additional 650,990 shares in the last quarter. Congress Asset Management Co. grew its stake in shares of PTC by 767.8% in the 3rd quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock worth $119,746,000 after acquiring an additional 586,443 shares in the last quarter. D1 Capital Partners L.P. purchased a new position in shares of PTC in the 3rd quarter worth about $84,549,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of PTC by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock worth $167,012,000 after buying an additional 150,652 shares during the last quarter. Institutional investors and hedge funds 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.