PTC (NASDAQ:PTC) Coverage Initiated at BMO Capital Markets

Investment analysts at BMO Capital Markets initiated coverage on shares of PTC (NASDAQ:PTC – Get Rating) in a research note issued to investors on Wednesday, The Fly reports. The firm set an “outperform” rating and a $166.00 price target on the technology company’s stock. BMO Capital Markets’ target price indicates a potential upside of 26.79% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of PTC from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, January 30th. Loop Capital raised their target price on shares of PTC from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. VNET Group restated a “maintains” rating on shares of PTC in a research note on Thursday, April 27th. Robert W. Baird raised their target price on shares of PTC from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, January 26th. Finally, Mizuho raised their target price on shares of PTC from $165.00 to $170.00 in a research note on Wednesday, May 17th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, PTC has a consensus rating of “Moderate Buy” and a consensus price target of $155.50.

PTC Price Performance

Shares of NASDAQ:PTC opened at $130.93 on Wednesday. The firm’s 50 day moving average price is $126.74 and its 200-day moving average price is $126.61. PTC has a twelve month low of $97.97 and a twelve month high of $139.91. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $15.50 billion, a PE ratio of 49.22, a price-to-earnings-growth ratio of 2.85 and a beta of 1.19.

Insider Activity

In related news, Director Blake D. Moret sold 40,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $130.42, for a total value of $5,216,800.00. Following the completion of the transaction, the director now directly owns 6,574,334 shares of the company’s stock, valued at $857,424,640.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Blake D. Moret sold 40,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $130.42, for a total value of $5,216,800.00. Following the completion of the transaction, the director now directly owns 6,574,334 shares of the company’s stock, valued at $857,424,640.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Blake D. Moret sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $123.78, for a total transaction of $2,475,600.00. Following the completion of the transaction, the director now directly owns 7,345,064 shares of the company’s stock, valued at $909,172,021.92. The disclosure for this sale can be found here. Insiders have sold a total of 590,190 shares of company stock worth $75,049,317 over the last quarter. Insiders own 8.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PTC. Belpointe Asset Management LLC purchased a new position in PTC during the fourth quarter worth $27,000. Clear Street Markets LLC boosted its stake in PTC by 93.5% during the first quarter. Clear Street Markets LLC now owns 207 shares of the technology company’s stock worth $27,000 after buying an additional 100 shares during the period. EverSource Wealth Advisors LLC boosted its stake in PTC by 1,527.3% during the third quarter. EverSource Wealth Advisors LLC now owns 358 shares of the technology company’s stock worth $37,000 after buying an additional 336 shares during the period. Desjardins Global Asset Management Inc. purchased a new position in PTC during the first quarter worth $43,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in PTC by 444.3% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 528 shares of the technology company’s stock worth $48,000 after buying an additional 431 shares during the period. 86.79% of the stock is owned by hedge funds and other institutional investors.

About PTC

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PTC, Inc is a global software company, which engages in the provision of portfolio of innovative digital solutions that work together to transform how physical products are engineered, manufactured, and serviced. It operates through the Software Products and Professional Services segments. The Software Products segment includes license, subscription, and related support revenue for its products.