Robert W. Baird Forecasts Strong Price Appreciation for PTC (NASDAQ:PTC) Stock

PTC (NASDAQ:PTC) had its price target increased by equities researchers at Robert W. Baird from $181.00 to $185.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 32.50% from the stock’s current price.

A number of other analysts have also weighed in on PTC. JPMorgan Chase & Co. reissued a “neutral” rating and set a $160.00 price objective (down previously from $210.00) on shares of PTC in a research note on Wednesday, April 9th. KeyCorp cut their price target on shares of PTC from $211.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Barclays lowered their price objective on shares of PTC from $215.00 to $175.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Rosenblatt Securities reiterated a “buy” rating and set a $204.00 target price on shares of PTC in a report on Tuesday, February 4th. Finally, Mizuho reduced their price target on PTC from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $192.08.

PTC Price Performance

PTC opened at $139.62 on Tuesday. The stock has a market capitalization of $16.80 billion, a P/E ratio of 43.09, a PEG ratio of 2.27 and a beta of 1.17. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC has a 12-month low of $133.38 and a 12-month high of $203.09. The stock has a 50-day moving average price of $156.09 and a 200-day moving average price of $177.09.

PTC (NASDAQ:PTC) last announced its quarterly earnings data 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%. Equities analysts predict that PTC will post 4.46 earnings per share for the current fiscal year.

Insider Activity

In other PTC news, Director Corinna Lathan sold 622 shares of PTC 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 completion of the transaction, the director now directly owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 the company. Aster Capital Management DIFC Ltd bought a new position in shares of PTC during the fourth quarter valued at $30,000. Allworth Financial LP grew its stake in shares of PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares during the period. Pinney & Scofield Inc. bought a new position in PTC during the fourth quarter valued at approximately $47,000. Kapitalo Investimentos Ltda purchased a new stake in PTC in the fourth quarter worth approximately $51,000. Finally, UMB Bank n.a. grew its position in PTC by 153.4% in the 1st quarter. UMB Bank n.a. now owns 294 shares of the technology company’s stock worth $46,000 after purchasing an additional 178 shares during the period. 95.14% of the stock is currently 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.