Stifel Nicolaus Forecasts Strong Price Appreciation for PTC (NASDAQ:PTC) Stock

PTC (NASDAQ:PTC) had its price target increased by research analysts at Stifel Nicolaus from $200.00 to $230.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 22.91% from the company’s current price.

Several other brokerages have also recently issued reports on PTC. Rosenblatt Securities restated a “buy” rating and issued a $195.00 target price on shares of PTC in a report on Thursday, October 10th. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and lowered their price target for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Royal Bank of Canada raised their price objective on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Piper Sandler boosted their target price on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Robert W. Baird increased their price target 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. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $207.54.

PTC Trading Down 0.9 %

Shares of PTC stock opened at $187.13 on Wednesday. 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 cap of $22.48 billion, a P/E ratio of 60.17, a P/E/G ratio of 2.70 and a beta of 1.16. The stock’s 50 day simple moving average is $192.16 and its 200-day simple moving average is $181.63.

Insiders Place Their Bets

In other PTC news, Director Corinna Lathan sold 860 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the sale, the director now directly owns 6,843 shares in the company, valued at $1,368,600. This represents a 11.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the completion of the transaction, the executive vice president now owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock worth $3,630,716 over the last ninety days. Corporate insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

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