Amalgamated Bank Purchases 164 Shares of PTC Inc. (NASDAQ:PTC)

Amalgamated Bank raised its position in PTC Inc. (NASDAQ:PTC) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,128 shares of the technology company’s stock after purchasing an additional 164 shares during the period. Amalgamated Bank’s holdings in PTC were worth $4,565,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC increased its position in shares of PTC by 180.8% in the first quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock worth $5,115,000 after purchasing an additional 17,430 shares during the last quarter. Portfolio Design Labs LLC purchased a new stake in shares of PTC during the 4th quarter valued at $4,316,000. Norges Bank bought a new stake in shares of PTC during the 4th quarter worth $114,043,000. Swedbank AB purchased a new position in PTC in the first quarter worth $9,849,000. Finally, BNP Paribas Financial Markets increased its stake in PTC by 133.1% in the first quarter. BNP Paribas Financial Markets now owns 122,819 shares of the technology company’s stock valued at $23,205,000 after acquiring an additional 70,131 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Trading Down 1.8 %

Shares of PTC opened at $175.90 on Friday. The firm has a fifty day simple moving average of $174.25 and a two-hundred day simple moving average of $178.57. PTC Inc. has a twelve month low of $134.61 and a twelve month high of $194.24. The stock has a market capitalization of $21.06 billion, a P/E ratio of 73.60, a PEG ratio of 3.24 and a beta of 1.18. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. The company had revenue of $518.64 million for the quarter, compared to analysts’ expectations of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. On average, research analysts anticipate that PTC Inc. will post 3.52 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on PTC. Mizuho reaffirmed a “neutral” rating and set a $190.00 price target (down previously from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Rosenblatt Securities boosted their target price on PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada reissued an “outperform” rating and set a $202.00 price target on shares of PTC in a research note on Thursday, August 1st. Finally, Piper Sandler upped their price objective on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.18.

Insider Activity at PTC

In related news, EVP Staats Aaron C. Von sold 1,000 shares of PTC stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value of $170,000.00. Following the sale, the executive vice president now owns 13,902 shares in the company, valued at $2,363,340. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other PTC news, EVP Staats Aaron C. Von sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value of $170,000.00. Following the completion of the sale, the executive vice president now directly owns 13,902 shares in the company, valued at $2,363,340. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the transaction, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock worth $2,431,330 over the last quarter. 1.17% of the stock is owned by corporate 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.