PTC (NASDAQ:PTC)‘s stock had its “buy” rating reissued by investment analysts at Robert W. Baird in a note issued to investors on Thursday. They currently have a $68.00 target price on the technology company’s stock. Robert W. Baird’s target price would indicate a potential upside of 6.83% from the company’s current price.
Several other analysts have also issued reports on PTC. BidaskClub upgraded shares of PTC from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Barclays raised their price target on shares of PTC from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. KeyCorp restated a “buy” rating and issued a $74.00 price target (up from $64.00) on shares of PTC in a research report on Thursday, October 26th. Evercore ISI set a $65.00 price target on shares of PTC and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, JPMorgan Chase & Co. lowered shares of PTC from an “overweight” rating to a “neutral” rating and set a $68.00 price target on the stock. in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $66.31.
PTC (NASDAQ:PTC) opened at $63.65 on Thursday. PTC has a 12 month low of $46.85 and a 12 month high of $67.12. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.80. The stock has a market cap of $7,370.00, a price-to-earnings ratio of 1,591.25 and a beta of 1.34.
PTC announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 19th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
In other news, Director Paul A. Lacy sold 4,000 shares of PTC stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $65.81, for a total transaction of $263,240.00. Following the sale, the director now directly owns 61,486 shares in the company, valued at approximately $4,046,393.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Schechter sold 1,128 shares of PTC stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $66.88, for a total transaction of $75,440.64. Following the sale, the director now owns 64,826 shares in the company, valued at $4,335,562.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,924 shares of company stock worth $3,627,304. 1.11% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of PTC. Tributary Capital Management LLC acquired a new stake in shares of PTC during the 3rd quarter valued at about $109,000. Stephens Inc. AR bought a new position in PTC during the 2nd quarter valued at about $126,000. Advisor Group Inc. lifted its holdings in PTC by 7.4% during the 2nd quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock valued at $150,000 after purchasing an additional 186 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in PTC by 85.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,013 shares of the technology company’s stock valued at $165,000 after purchasing an additional 1,389 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in PTC during the 3rd quarter valued at about $218,000. Institutional investors and hedge funds own 99.88% of the company’s stock.
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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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