PTC Inc. (NASDAQ:PTC) Position Raised by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its stake in PTC Inc. (NASDAQ:PTC) by 5.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,461 shares of the technology company’s stock after buying an additional 82 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in PTC were worth $264,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PTC. Massachusetts Financial Services Co. MA lifted its stake in PTC by 66.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock valued at $140,577,000 after buying an additional 310,092 shares during the last quarter. Matrix Capital Management Company LP bought a new stake in PTC in the first quarter valued at $56,076,000. Vanguard Group Inc. lifted its stake in PTC by 1.5% in the first quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock valued at $2,596,209,000 after buying an additional 205,673 shares during the last quarter. Clearbridge Investments LLC bought a new stake in PTC in the first quarter valued at $28,510,000. Finally, Railway Pension Investments Ltd bought a new stake in shares of PTC during the second quarter valued at about $24,416,000. 95.14% of the stock is currently owned by institutional investors.

PTC Price Performance

NASDAQ:PTC opened at $185.25 on Tuesday. The business’s 50-day moving average price is $177.72 and its 200 day moving average price is $177.59. The firm has a market cap of $22.26 billion, a P/E ratio of 75.61, a PEG ratio of 2.75 and a beta of 1.17. PTC Inc. has a 52-week low of $135.16 and a 52-week high of $194.24. 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 issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, topping 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%. As a group, sell-side analysts predict that PTC Inc. will post 3.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 value of $170,000.00. Following the transaction, the executive vice president now owns 13,902 shares of the company’s stock, valued at approximately $2,363,340. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other PTC 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 transaction, the executive vice president now owns 13,902 shares of the company’s stock, valued at $2,363,340. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the transaction, the director now directly owns 44,137 shares in the company, valued at approximately $7,562,433.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,000 shares of company stock valued at $1,714,010. 1.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PTC. Piper Sandler lifted 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. Royal Bank of Canada restated an “outperform” rating and set a $202.00 price objective on shares of PTC in a research note on Thursday, August 1st. Robert W. Baird lifted their price objective on shares of PTC from $216.00 to $226.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Rosenblatt Securities restated a “buy” rating and set a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Finally, StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.09.

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.