NewEdge Advisors LLC Boosts Stock Holdings in PTC Inc. (NASDAQ:PTC)

NewEdge Advisors LLC grew its position in PTC Inc. (NASDAQ:PTC) by 1,633.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,736 shares of the technology company’s stock after acquiring an additional 8,232 shares during the quarter. NewEdge Advisors LLC’s holdings in PTC were worth $1,587,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in PTC by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 84,503 shares of the technology company’s stock valued at $14,785,000 after purchasing an additional 1,526 shares in the last quarter. Cibc World Markets Corp boosted its position in PTC by 133.1% during the fourth quarter. Cibc World Markets Corp now owns 15,289 shares of the technology company’s stock worth $2,675,000 after acquiring an additional 8,730 shares during the last quarter. Elo Mutual Pension Insurance Co purchased a new stake in PTC during the 4th quarter valued at about $1,815,000. Verition Fund Management LLC grew its stake in PTC by 45.2% during the 4th quarter. Verition Fund Management LLC now owns 56,227 shares of the technology company’s stock valued at $9,837,000 after acquiring an additional 17,501 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in PTC by 2.6% in the 4th quarter. Neuberger Berman Group LLC now owns 7,930 shares of the technology company’s stock valued at $1,387,000 after acquiring an additional 202 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PTC

In other news, Director Janice Chaffin sold 4,000 shares of the 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 sale, the director now owns 48,137 shares of the company’s stock, valued at approximately $8,632,408.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert Schechter sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total transaction of $858,650.00. Following the completion of the transaction, the director now directly owns 59,616 shares of the company’s stock, valued at $10,237,855.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $179.33, for a total value of $717,320.00. Following the sale, the director now owns 48,137 shares in the company, valued at approximately $8,632,408.21. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock valued at $2,431,330 in the last three months. 1.17% of the stock is owned by corporate insiders.

PTC Price Performance

Shares of PTC opened at $179.60 on Friday. PTC Inc. has a 1-year low of $134.61 and a 1-year high of $194.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a 50-day simple moving average of $174.45 and a two-hundred day simple moving average of $178.12. The stock has a market cap of $21.50 billion, a PE ratio of 75.15, a P/E/G ratio of 3.40 and a beta of 1.17.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. PTC had a return on equity of 13.36% and a net margin of 13.32%. The business had revenue of $518.64 million during the quarter, compared to analysts’ expectations of $533.04 million. As a group, analysts forecast that PTC Inc. will post 3.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PTC. Royal Bank of Canada restated an “outperform” rating and set a $202.00 target price on shares of PTC in a report on Thursday, August 1st. Rosenblatt Securities boosted their price objective on PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Piper Sandler boosted their price target 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. 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, PTC currently has an average rating of “Moderate Buy” and a consensus target price of $200.18.

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.