PTC (PTC) Price Target Increased to $77.00 by Analysts at Barclays
PTC (NASDAQ:PTC) had its target price increased by Barclays from $69.00 to $77.00 in a report published on Thursday, Marketbeat.com reports. Barclays currently has an overweight rating on the technology company’s stock.
A number of other research analysts have also weighed in on the stock. Wedbush reaffirmed an outperform rating and issued a $57.00 price target on shares of PTC in a research note on Thursday, October 5th. Bank of America started coverage on shares of PTC in a research note on Monday, November 6th. They issued an underperform rating and a $60.00 price target on the stock. JPMorgan Chase & Co. downgraded shares of PTC from an overweight rating to a neutral rating and set a $68.00 price objective for the company. in a report on Tuesday, December 12th. Royal Bank of Canada reiterated a buy rating and issued a $74.00 price objective on shares of PTC in a report on Friday, October 27th. Finally, BidaskClub upgraded shares of PTC from a buy rating to a strong-buy rating in a report on Wednesday, October 25th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. PTC presently has an average rating of Buy and an average price target of $70.81.
Shares of PTC (NASDAQ PTC) traded up $1.51 during trading on Thursday, reaching $71.46. 2,180,000 shares of the company were exchanged, compared to its average volume of 1,030,000. The stock has a market cap of $8,300.00, a price-to-earnings ratio of 297.75 and a beta of 1.34. PTC has a 1 year low of $49.12 and a 1 year high of $74.88. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.10 and a quick ratio of 0.98.
In other news, Director Robert Schechter sold 1,128 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $66.88, for a total transaction of $75,440.64. Following the completion of the sale, the director now owns 64,826 shares in the company, valued at approximately $4,335,562.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James E. Heppelmann sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $64.58, for a total transaction of $1,614,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,924 shares of company stock valued at $3,627,304. 1.11% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new stake in shares of PTC during the 4th quarter worth approximately $510,000. Oakbrook Investments LLC increased its holdings in shares of PTC by 19.1% during the 4th quarter. Oakbrook Investments LLC now owns 9,470 shares of the technology company’s stock worth $575,000 after buying an additional 1,520 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of PTC by 2.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 472,552 shares of the technology company’s stock worth $28,717,000 after buying an additional 11,110 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of PTC by 120.4% during the 4th quarter. Bank of Montreal Can now owns 16,212 shares of the technology company’s stock worth $985,000 after buying an additional 8,857 shares during the last quarter. Finally, AXA increased its holdings in shares of PTC by 15.9% during the 3rd quarter. AXA now owns 1,161,468 shares of the technology company’s stock worth $65,367,000 after buying an additional 159,329 shares during the last quarter.
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PTC Company Profile
PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.
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