PTC (NASDAQ:PTC)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a report released on Thursday, TipRanks reports. They presently have a $100.00 price objective on the technology company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 17.65% from the stock’s current price.

Other analysts have also recently issued reports about the company. Stifel Nicolaus raised their price target on PTC from $76.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday. Royal Bank of Canada raised their price target on PTC from $70.00 to $82.00 and gave the company a “sector perform” rating in a research note on Thursday. Mizuho raised their price target on PTC from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Bank of America started coverage on PTC in a research note on Wednesday, May 27th. They issued a “buy” rating on the stock. Finally, Wedbush raised their price target on PTC from $70.00 to $78.00 in a research note on Thursday, June 11th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $89.58.

Shares of NASDAQ PTC opened at $85.00 on Thursday. The stock has a market cap of $9.08 billion, a P/E ratio of 154.55, a PEG ratio of 1.53 and a beta of 1.20. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.04. PTC has a 12-month low of $43.90 and a 12-month high of $92.47. The business’s fifty day simple moving average is $77.50 and its 200-day simple moving average is $72.97.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.15. The business had revenue of $359.60 million for the quarter, compared to analysts’ expectations of $340.32 million. PTC had a return on equity of 15.35% and a net margin of 4.67%. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period last year, the firm earned $0.22 earnings per share. On average, equities analysts forecast that PTC will post 1.59 EPS for the current fiscal year.

In other PTC news, CEO James E. Heppelmann sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $67.01, for a total value of $1,005,150.00. Following the completion of the sale, the chief executive officer now owns 645,259 shares in the company, valued at $43,238,805.59. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders sold 15,500 shares of company stock valued at $1,039,193. 9.91% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Pictet Asset Management Ltd. raised its stake in shares of PTC by 23.3% during the first quarter. Pictet Asset Management Ltd. now owns 3,277,124 shares of the technology company’s stock worth $200,593,000 after purchasing an additional 618,269 shares during the last quarter. Norges Bank purchased a new stake in shares of PTC during the fourth quarter worth approximately $63,331,000. AQR Capital Management LLC raised its position in PTC by 67.6% in the first quarter. AQR Capital Management LLC now owns 20,224 shares of the technology company’s stock worth $1,238,000 after acquiring an additional 8,154 shares in the last quarter. Capital Investment Services of America Inc. raised its position in PTC by 1.8% in the second quarter. Capital Investment Services of America Inc. now owns 225,755 shares of the technology company’s stock worth $17,561,000 after acquiring an additional 3,932 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in PTC by 34.9% in the first quarter. Wells Fargo & Company MN now owns 205,823 shares of the technology company’s stock worth $12,598,000 after acquiring an additional 53,217 shares in the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

About PTC

PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

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Analyst Recommendations for PTC (NASDAQ:PTC)

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