PTC (NASDAQ:PTC – Get Free Report) had its price target hoisted by research analysts at BMO Capital Markets from $187.00 to $231.00 in a note issued to investors on Thursday, MarketBeat reports. The brokerage presently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 8.91% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the company. Oppenheimer lifted their price objective on PTC from $210.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $204.00 price target on shares of PTC in a research note on Tuesday. Stifel Nicolaus dropped their price target on PTC from $230.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Piper Sandler decreased their price objective on PTC from $202.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Finally, KeyCorp reaffirmed an “overweight” rating and set a $192.00 target price (up previously from $185.00) on shares of PTC in a report on Monday, July 7th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.14.
PTC Trading Down 1.3%
PTC (NASDAQ:PTC – Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.42. PTC had a net margin of 20.74% and a return on equity of 17.09%. The business had revenue of $643.94 million for the quarter, compared to the consensus estimate of $582.12 million. During the same period last year, the firm posted $0.98 earnings per share. The company’s revenue was up 24.2% compared to the same quarter last year. On average, equities research analysts forecast that PTC will post 4.46 earnings per share for the current fiscal year.
Insider Transactions at PTC
In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the transaction, the executive vice president directly owned 17,731 shares of the company’s stock, valued at $2,836,960. The trade was a 10.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.
Institutional Trading of PTC
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its position in shares of PTC by 16.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,632 shares of the technology company’s stock worth $668,000 after buying an additional 523 shares during the period. Teacher Retirement System of Texas acquired a new position in PTC during the 4th quarter worth about $207,000. LPL Financial LLC boosted its holdings in PTC by 14.6% during the 4th quarter. LPL Financial LLC now owns 17,914 shares of the technology company’s stock valued at $3,294,000 after acquiring an additional 2,285 shares during the period. Blair William & Co. IL boosted its holdings in PTC by 6.2% during the 4th quarter. Blair William & Co. IL now owns 2,727 shares of the technology company’s stock valued at $501,000 after acquiring an additional 159 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in PTC in the 4th quarter valued at about $77,000. 95.14% of the stock is currently 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.
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