Bridges Investment Management Inc. Acquires Shares of 1,386 PTC Inc. (NASDAQ:PTC)

Bridges Investment Management Inc. bought a new position in shares of PTC Inc. (NASDAQ:PTC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,386 shares of the technology company’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PTC. Principal Securities Inc. acquired a new position in PTC in the 4th quarter valued at about $46,000. PNC Financial Services Group Inc. grew its position in shares of PTC by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,612 shares of the technology company’s stock valued at $807,000 after purchasing an additional 113 shares during the last quarter. UBS Group AG increased its stake in shares of PTC by 1.1% during the fourth quarter. UBS Group AG now owns 190,935 shares of the technology company’s stock worth $33,406,000 after purchasing an additional 2,056 shares during the period. Wells Fargo & Company MN lifted its holdings in PTC by 10.2% during the 4th quarter. Wells Fargo & Company MN now owns 96,290 shares of the technology company’s stock worth $16,847,000 after purchasing an additional 8,936 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in PTC by 3.2% in the 4th quarter. D.A. Davidson & CO. now owns 3,840 shares of the technology company’s stock valued at $672,000 after purchasing an additional 118 shares during the period. 95.14% of the stock is currently owned by institutional investors.

PTC Trading Down 1.8 %

Shares of PTC opened at $175.90 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. PTC Inc. has a 52-week low of $134.61 and a 52-week high of $194.24. The firm has a market cap of $21.06 billion, a price-to-earnings ratio of 73.60, a PEG ratio of 3.24 and a beta of 1.18. The business’s fifty day moving average is $174.25 and its 200-day moving average is $178.54.

PTC (NASDAQ:PTC) last released its earnings results 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 firm 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%. Equities analysts anticipate that PTC Inc. will post 3.52 EPS for the current fiscal year.

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total transaction of $170,000.00. Following the sale, the executive vice president now owns 13,902 shares of the company’s stock, valued at $2,363,340. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Staats Aaron C. Von sold 1,000 shares of PTC stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the sale, the executive vice president now directly owns 13,902 shares of the company’s stock, valued at $2,363,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the transaction, the director now directly owns 44,137 shares of the company’s stock, 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 in the last three months. 1.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PTC has been the topic of several recent research reports. Rosenblatt Securities increased their price objective 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 cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Mizuho restated a “neutral” rating and set a $190.00 target price (down previously from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 price target on shares of PTC in a research report on Thursday, August 1st. Finally, Piper Sandler increased their price target on PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.18.

PTC 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.