Robert W. Baird Raises PTC (NASDAQ:PTC) Price Target to $216.00

PTC (NASDAQ:PTC) had its target price raised by investment analysts at Robert W. Baird from $210.00 to $216.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target indicates a potential upside of 23.46% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of PTC from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $130.00 to $200.00 in a research report on Thursday, January 4th. Mizuho reduced their price objective on shares of PTC from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday. Piper Sandler increased their target price on shares of PTC from $155.00 to $177.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. KeyCorp increased their target price on shares of PTC from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 target price on shares of PTC in a research report on Thursday, February 1st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $202.00.

PTC Stock Performance

NASDAQ:PTC opened at $174.96 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.19 and a current ratio of 1.19. The company has a fifty day moving average of $183.57 and a two-hundred day moving average of $170.96. The stock has a market capitalization of $20.92 billion, a PE ratio of 88.81, a P/E/G ratio of 3.17 and a beta of 1.19. PTC has a fifty-two week low of $124.42 and a fifty-two week high of $194.24.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The company had revenue of $550.21 million during the quarter, compared to analysts’ expectations of $538.59 million. PTC had a net margin of 10.86% and a return on equity of 12.87%. As a group, research analysts forecast that PTC will post 3.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the sale, the chief executive officer now directly owns 968,357 shares in the company, valued at $171,631,594.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other PTC news, insider Catherine Kniker sold 1,330 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the transaction, the insider now owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the transaction, the chief executive officer now directly owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The disclosure for this sale can be found here. 1.17% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PTC. Legacy Financial Group LLC purchased a new position in PTC during the third quarter worth about $28,000. Lindbrook Capital LLC boosted its stake in shares of PTC by 108.3% in the fourth quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock valued at $31,000 after purchasing an additional 91 shares during the period. Riverview Trust Co purchased a new position in shares of PTC in the first quarter valued at approximately $34,000. Resources Management Corp CT ADV boosted its stake in shares of PTC by 4,285.7% in the third quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock valued at $43,000 after purchasing an additional 300 shares during the period. Finally, Principal Securities Inc. purchased a new position in shares of PTC in the fourth quarter valued at approximately $46,000. 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.