Gotham Asset Management LLC Grows Holdings in PTC Inc. (NASDAQ:PTC)

Gotham Asset Management LLC boosted its holdings in shares of PTC Inc. (NASDAQ:PTC) by 58.4% in the fourth quarter, HoldingsChannel reports. The fund owned 6,529 shares of the technology company’s stock after acquiring an additional 2,407 shares during the period. Gotham Asset Management LLC’s holdings in PTC were worth $1,200,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of PTC by 5.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,199 shares of the technology company’s stock valued at $39,212,000 after purchasing an additional 9,893 shares during the last quarter. Proficio Capital Partners LLC bought a new position in PTC during the 4th quarter valued at approximately $8,858,000. Avantax Advisory Services Inc. purchased a new position in PTC during the fourth quarter valued at $223,000. Jones Financial Companies Lllp boosted its holdings in PTC by 1,140.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the technology company’s stock worth $84,000 after acquiring an additional 422 shares in the last quarter. Finally, Choreo LLC purchased a new stake in shares of PTC in the fourth quarter worth $364,000. Institutional investors own 95.14% of the company’s stock.

Insiders Place Their Bets

In related news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction of $96,739.66. Following the sale, the director now owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. This trade represents a 7.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Staats Aaron C. Von sold 1,988 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the transaction, the executive vice president now owns 17,731 shares of the company’s stock, valued at $2,836,960. The trade was a 10.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

PTC Stock Up 0.6%

PTC opened at $172.91 on Friday. The firm’s 50 day simple moving average is $154.62 and its two-hundred day simple moving average is $174.02. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $203.09. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $20.74 billion, a PE ratio of 53.37, a PEG ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.42. The firm had revenue of $636.37 million for the quarter, compared to analysts’ expectations of $608.64 million. PTC had a return on equity of 14.49% and a net margin of 16.95%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 EPS. As a group, equities analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

Analyst Ratings Changes

PTC has been the topic of several analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 target price on shares of PTC in a research note on Thursday, May 1st. Piper Sandler cut their target price on PTC from $202.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a report on Monday, May 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $160.00 price target (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. Finally, Stifel Nicolaus reduced their price objective on PTC from $230.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $187.15.

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.