PTC Inc. (NASDAQ:PTC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

PTC Inc. (NASDAQ:PTC) has earned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $204.83.

A number of research analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler upped their price target on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Royal Bank of Canada lifted their target price on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th.

PTC Stock Up 2.5 %

PTC opened at $197.64 on Monday. PTC has a fifty-two week low of $153.11 and a fifty-two week high of $199.48. The company’s 50-day moving average is $184.36 and its 200 day moving average is $179.29. The firm has a market capitalization of $23.74 billion, a P/E ratio of 63.55, a PEG ratio of 2.61 and a beta of 1.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78.

Insider Activity at PTC

In related news, CAO Alice Christenson sold 1,703 shares of the 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 sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at $160,356. This represents a 67.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PTC

Institutional investors have recently modified their holdings of the stock. Fernbridge Capital Management LP raised its holdings in shares of PTC by 83.7% in the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after purchasing an additional 650,990 shares in the last quarter. Congress Asset Management Co. lifted its holdings in shares of PTC by 767.8% during the 3rd quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock valued at $119,746,000 after purchasing an additional 586,443 shares during the last quarter. D1 Capital Partners L.P. acquired a new stake in PTC in the third quarter worth about $84,549,000. Massachusetts Financial Services Co. MA grew its position in PTC by 66.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after purchasing an additional 310,092 shares during the last quarter. Finally, Railway Pension Investments Ltd purchased a new stake in shares of PTC during the second quarter valued at $24,416,000. 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.