Silverberg Bernstein Capital Management LLC Acquires 2,400 Shares of PTC Inc. (NASDAQ:PTC)

Silverberg Bernstein Capital Management LLC lifted its holdings in PTC Inc. (NASDAQ:PTC) by 5.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,308 shares of the technology company’s stock after purchasing an additional 2,400 shares during the period. PTC comprises 7.2% of Silverberg Bernstein Capital Management LLC’s holdings, making the stock its 2nd biggest holding. Silverberg Bernstein Capital Management LLC’s holdings in PTC were worth $7,795,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of PTC by 5.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,199 shares of the technology company’s stock worth $39,212,000 after buying an additional 9,893 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of PTC in the fourth quarter worth about $8,858,000. Avantax Advisory Services Inc. acquired a new position in shares of PTC in the fourth quarter worth about $223,000. Jones Financial Companies Lllp boosted its holdings in shares of PTC by 1,140.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the technology company’s stock worth $84,000 after buying an additional 422 shares during the period. Finally, Choreo LLC acquired a new position in shares of PTC in the fourth quarter worth about $364,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Transactions at PTC

In other news, Director Corinna Lathan sold 622 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the sale, the director now owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. This represents a 7.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 1,988 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the sale, the executive vice president now directly 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.

Analyst Ratings Changes

Several research analysts have commented on PTC shares. Citigroup decreased their target price on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Piper Sandler reduced 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. Mizuho reduced their price target 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $204.00 price objective on shares of PTC in a research report on Thursday, May 1st. Finally, Stifel Nicolaus cut their price objective on shares of PTC from $230.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, PTC has a consensus rating of “Moderate Buy” and a consensus target price of $187.15.

PTC Trading Down 0.9%

Shares of PTC stock opened at $166.75 on Tuesday. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $203.09. The firm’s fifty day simple moving average is $156.85 and its 200 day simple moving average is $172.26. The firm has a market capitalization of $20.00 billion, a P/E ratio of 51.47, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32.

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

PTC Company Profile

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.