Seven Eight Capital LP Buys New Shares in PTC Inc. (NASDAQ:PTC)

Seven Eight Capital LP bought a new position in PTC Inc. (NASDAQ:PTC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,002 shares of the technology company’s stock, valued at approximately $727,000.

A number of other institutional investors have also bought and sold shares of PTC. Oregon Public Employees Retirement Fund boosted its position in shares of PTC by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock worth $1,865,000 after acquiring an additional 61 shares during the last quarter. Diversified Trust Co lifted its stake in PTC by 2.9% in the 2nd quarter. Diversified Trust Co now owns 2,193 shares of the technology company’s stock worth $398,000 after purchasing an additional 62 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after purchasing an additional 62 shares during the last quarter. Fidelis Capital Partners LLC grew its position in shares of PTC by 5.4% during the first quarter. Fidelis Capital Partners LLC now owns 1,454 shares of the technology company’s stock valued at $275,000 after purchasing an additional 74 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of PTC by 0.8% in the fourth quarter. US Bancorp DE now owns 9,931 shares of the technology company’s stock worth $1,738,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

PTC has been the subject of a number of research reports. 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. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Mizuho restated a “neutral” rating and issued a $190.00 price target (down previously from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Piper Sandler increased their price objective on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Rosenblatt Securities boosted their target price on shares of PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.18.

Insider Activity

In related news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $179.33, for a total transaction of $717,320.00. Following the completion of the sale, the director now owns 48,137 shares in the company, valued at approximately $8,632,408.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other PTC news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $179.33, for a total transaction of $717,320.00. Following the transaction, the director now directly owns 48,137 shares in the company, valued at approximately $8,632,408.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Staats Aaron C. Von sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was 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 owns 13,902 shares of the company’s stock, valued at $2,363,340. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,000 shares of company stock valued at $2,431,330. 1.17% of the stock is currently owned by company insiders.

PTC Stock Down 1.8 %

Shares of NASDAQ PTC opened at $175.90 on Friday. PTC Inc. has a 1 year low of $134.61 and a 1 year high of $194.24. The firm has a 50-day simple moving average of $174.25 and a two-hundred day simple moving average of $178.57. The company has a market cap 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 debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $518.64 million during 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%. Research analysts anticipate that PTC Inc. will post 3.52 earnings per share 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.