Blue Trust Inc. Buys 654 Shares of PTC Inc. (NASDAQ:PTC)

Blue Trust Inc. raised its stake in shares of PTC Inc. (NASDAQ:PTC) by 473.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 792 shares of the technology company’s stock after purchasing an additional 654 shares during the quarter. Blue Trust Inc.’s holdings in PTC were worth $144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its position in 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 period. Rothschild Investment LLC purchased a new stake in shares of PTC in the 2nd quarter worth about $29,000. International Assets Investment Management LLC purchased a new stake in shares of PTC in the 2nd quarter worth about $30,000. OFI Invest Asset Management purchased a new stake in shares of PTC in the 2nd quarter worth about $31,000. Finally, Brown Brothers Harriman & Co. grew its position in shares of PTC by 66.4% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 233 shares of the technology company’s stock worth $42,000 after buying an additional 93 shares during the period. 95.14% of the stock is currently owned by institutional investors.

PTC Stock Up 1.8 %

Shares of PTC opened at $187.01 on Monday. The firm has a market capitalization of $22.39 billion, a P/E ratio of 78.25, a P/E/G ratio of 2.69 and a beta of 1.17. PTC Inc. has a 12-month low of $134.61 and a 12-month high of $194.24. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average price of $177.54 and a 200-day moving average price of $177.60.

PTC (NASDAQ:PTC) last issued 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. PTC had a net margin of 13.32% and a return on equity of 13.36%. The firm had revenue of $518.64 million during the quarter, compared to analyst estimates of $533.04 million. Equities research analysts expect that PTC Inc. will post 3.51 earnings per share for the current year.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 1,000 shares of the business’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 transaction, the executive vice president now directly owns 13,902 shares in the company, valued at approximately $2,363,340. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Staats Aaron C. Von sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 13,902 shares in the company, valued at approximately $2,363,340. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Schechter sold 5,000 shares of the stock in a transaction that occurred 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 owns 59,616 shares in the company, valued at approximately $10,237,855.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,000 shares of company stock worth $1,714,010. 1.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PTC has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on shares of PTC from $216.00 to $226.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $202.00 price objective on shares of PTC in a research report on Thursday, August 1st. 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. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Rosenblatt Securities restated a “buy” rating and set a $195.00 target price on shares of PTC in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, PTC has a consensus rating of “Moderate Buy” and a consensus price target of $201.09.

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.