Ascent Group LLC Boosts Stake in PTC Inc. (NASDAQ:PTC)

Ascent Group LLC lifted its holdings in PTC Inc. (NASDAQ:PTC) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,295 shares of the technology company’s stock after buying an additional 1,560 shares during the period. Ascent Group LLC’s holdings in PTC were worth $2,812,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Nisa Investment Advisors LLC increased its position in PTC by 1.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 24,972 shares of the technology company’s stock worth $4,592,000 after purchasing an additional 285 shares during the last quarter. Fifth Third Bancorp increased its position in PTC by 8.5% during the fourth quarter. Fifth Third Bancorp now owns 2,861 shares of the technology company’s stock worth $526,000 after purchasing an additional 223 shares during the last quarter. Archford Capital Strategies LLC acquired a new stake in PTC during the fourth quarter worth about $372,000. Blue Trust Inc. increased its position in PTC by 44.3% during the fourth quarter. Blue Trust Inc. now owns 1,143 shares of the technology company’s stock worth $206,000 after purchasing an additional 351 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in PTC during the fourth quarter worth about $451,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PTC has been the subject of several recent analyst reports. Oppenheimer cut their price objective on shares of PTC from $210.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Mizuho cut their price objective on shares of PTC from $190.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. BMO Capital Markets lifted their price target on shares of PTC from $183.00 to $187.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Piper Sandler dropped their price target on shares of PTC from $202.00 to $180.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $204.00 price target on shares of PTC in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.15.

PTC Trading Down 0.9%

NASDAQ PTC opened at $168.77 on Monday. The firm has a 50 day simple moving average of $156.00 and a 200-day simple moving average of $173.27. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. PTC Inc. has a one year low of $133.38 and a one year high of $203.09. The firm has a market cap of $20.24 billion, a price-to-earnings ratio of 52.09, a PEG ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.37 by $0.42. PTC had a net margin of 16.95% and a return on equity of 14.49%. The business had revenue of $636.37 million during the quarter, compared to analyst estimates of $608.64 million. During the same quarter last year, the firm posted $1.46 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the transaction, the director now owns 7,604 shares in the company, valued at $1,182,650.12. The trade was a 7.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the transaction, the executive vice president now owns 17,731 shares of the company’s stock, valued at $2,836,960. This represents a 10.08% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

About PTC

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.