PTC (NASDAQ:PTC) Given New $190.00 Price Target at Oppenheimer

PTC (NASDAQ:PTC) had its price target increased by Oppenheimer from $170.00 to $190.00 in a report published on Thursday,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

Several other brokerages have also commented on PTC. Robert W. Baird raised their price objective on PTC from $185.00 to $191.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. KeyCorp lowered their price objective on PTC from $211.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. BMO Capital Markets raised their price objective on PTC from $183.00 to $187.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Piper Sandler lowered their price objective on PTC from $202.00 to $180.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered PTC from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $188.69.

PTC Stock Performance

Shares of PTC stock opened at $171.02 on Thursday. The stock has a fifty day moving average of $159.76 and a 200 day moving average of $171.26. PTC has a 52 week low of $133.38 and a 52 week high of $203.09. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 52.78, a PEG ratio of 2.27 and a beta of 1.18. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.42. PTC had a return on equity of 14.49% and a net margin of 16.95%. The company had revenue of $636.37 million during the quarter, compared to analyst estimates of $608.64 million. During the same quarter last year, the firm posted $1.46 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. As a group, research analysts expect that PTC will post 4.46 earnings per share for the current year.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the transaction, the executive vice president now owns 17,731 shares of the company’s stock, valued at approximately $2,836,960. The trade was a 10.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was 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. This trade represents a 7.56% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On PTC

A number of hedge funds have recently bought and sold shares of PTC. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of PTC by 5.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,199 shares of the technology company’s stock valued at $39,212,000 after purchasing an additional 9,893 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of PTC during the 4th quarter valued at about $8,858,000. Avantax Advisory Services Inc. bought a new stake in shares of PTC during the 4th quarter valued at about $223,000. Jones Financial Companies Lllp grew its stake in shares of PTC by 1,140.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the technology company’s stock valued at $84,000 after purchasing an additional 422 shares during the period. Finally, Choreo LLC bought a new stake in shares of PTC during the 4th quarter valued at about $364,000. Hedge funds and other institutional investors 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.