PTC (NASDAQ:PTC) Price Target Raised to $230.00 at Stifel Nicolaus

PTC (NASDAQ:PTC) had its price objective boosted by equities researchers at Stifel Nicolaus from $200.00 to $230.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 18.56% from the stock’s current price.

PTC has been the subject of several other reports. JPMorgan Chase & Co. raised their price target on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Piper Sandler raised their price target on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.54.

PTC Stock Down 1.5 %

Shares of NASDAQ:PTC traded down $2.90 on Wednesday, hitting $194.00. 179,332 shares of the company traded hands, compared to its average volume of 796,176. PTC has a 52 week low of $163.30 and a 52 week high of $203.09. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The stock has a 50 day simple moving average of $191.88 and a 200-day simple moving average of $181.54. The company has a market cap of $23.31 billion, a PE ratio of 62.40, a PEG ratio of 2.70 and a beta of 1.16.

Insiders Place Their Bets

In other news, Director Corinna Lathan sold 860 shares of PTC stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $200.00, for a total transaction of $172,000.00. Following the transaction, the director now directly owns 6,843 shares of the company’s stock, valued at $1,368,600. The trade was 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, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the transaction, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. The trade was a 67.23 % 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. Insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. State Street Corp lifted its holdings in PTC by 2.7% in the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after purchasing an additional 133,370 shares in the last quarter. Geode Capital Management LLC lifted its holdings in PTC by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock worth $533,341,000 after purchasing an additional 37,645 shares in the last quarter. Fernbridge Capital Management LP lifted its holdings in 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 purchasing an additional 650,990 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in PTC by 4.4% in the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock worth $206,091,000 after purchasing an additional 48,553 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in PTC by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock worth $203,463,000 after purchasing an additional 30,525 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.