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

PTC (NASDAQ:PTC) had its target price upped by analysts at Robert W. Baird from $226.00 to $228.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price objective points to a potential upside of 19.21% from the stock’s previous close.

PTC has been the topic of a number of other reports. Royal Bank of Canada restated an “outperform” rating and issued a $202.00 target price on shares of PTC in a report on Thursday, August 1st. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Piper Sandler upped their price target on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and dropped their price target for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $195.00 price target on shares of PTC in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, PTC presently has a consensus rating of “Moderate Buy” and an average price target of $204.83.

PTC Price Performance

Shares of NASDAQ PTC traded down $6.78 during mid-day trading on Thursday, reaching $191.26. The company had a trading volume of 723,350 shares, compared to its average volume of 800,463. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock has a market cap of $22.98 billion, a PE ratio of 78.40, a P/E/G ratio of 2.74 and a beta of 1.17. The company has a 50-day moving average price of $179.50 and a two-hundred day moving average price of $178.13. PTC has a 1-year low of $148.01 and a 1-year high of $199.48.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, November 6th. The technology company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.11. The business had revenue of $626.55 million for the quarter, compared to analysts’ expectations of $620.49 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. On average, equities analysts anticipate that PTC will post 3.51 earnings per share for the current year.

Insider Buying and Selling at PTC

In other PTC news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the transaction, the director now owns 44,137 shares in the company, valued at $7,562,433.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.17% of the company’s stock.

Institutional Trading of PTC

Several large investors have recently made changes to their positions in PTC. Congress Asset Management Co. boosted its stake in shares of PTC by 767.8% during 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. Massachusetts Financial Services Co. MA boosted its stake in shares of PTC by 66.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after acquiring an additional 310,092 shares in the last quarter. Matrix Capital Management Company LP acquired a new position in shares of PTC during the 1st quarter worth about $56,076,000. Vanguard Group Inc. lifted its position in shares of PTC by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock worth $2,596,209,000 after purchasing an additional 205,673 shares during the last quarter. Finally, Clearbridge Investments LLC acquired a new position in shares of PTC during the 1st quarter worth about $28,510,000. Institutional investors own 95.14% of the company’s stock.

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.