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

PTC (NASDAQ:PTC) had its price target increased by equities research analysts at Stifel Nicolaus from $200.00 to $230.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 22.91% from the company’s previous close.

A number of other research firms have also recently weighed in on PTC. Royal Bank of Canada raised their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird increased their target price on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and cut their price target for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Piper Sandler upped their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $207.54.

PTC Trading Down 0.9 %

Shares of NASDAQ PTC opened at $187.13 on Wednesday. The business has a fifty day moving average price of $192.16 and a 200 day moving average price of $181.63. PTC has a 1-year low of $163.30 and a 1-year high of $203.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $22.48 billion, a P/E ratio of 60.17, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16.

Insider Activity

In other PTC news, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at approximately $160,356. This represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kristian Talvitie sold 10,306 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the sale, the chief financial officer now directly owns 57,134 shares in the company, valued at approximately $11,389,091.56. This trade represents a 15.28 % 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. Company insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after buying an additional 122 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after acquiring an additional 62 shares in the last quarter. Fifth Third Bancorp raised its position in PTC by 9.8% during the second quarter. Fifth Third Bancorp now owns 2,377 shares of the technology company’s stock worth $432,000 after acquiring an additional 212 shares during the period. Van Lanschot Kempen Investment Management N.V. lifted its holdings in PTC by 13.2% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 768,810 shares of the technology company’s stock valued at $139,670,000 after purchasing an additional 89,678 shares in the last quarter. Finally, Addison Capital Co grew its position in shares of PTC by 3.9% in the second quarter. Addison Capital Co now owns 3,127 shares of the technology company’s stock valued at $568,000 after purchasing an additional 118 shares during the period. Hedge funds and other 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.