Wahed Invest LLC Raises Stock Holdings in PTC Inc. (NASDAQ:PTC)

Wahed Invest LLC lifted its holdings in shares of PTC Inc. (NASDAQ:PTC) by 9.4% in the 4th quarter, Holdings Channel reports. The firm owned 1,953 shares of the technology company’s stock after acquiring an additional 168 shares during the period. Wahed Invest LLC’s holdings in PTC were worth $342,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Fisher Asset Management LLC grew its holdings in shares of PTC by 4.1% during the fourth quarter. Fisher Asset Management LLC now owns 24,057 shares of the technology company’s stock worth $4,209,000 after purchasing an additional 955 shares in the last quarter. Wellington Management Group LLP boosted its stake in PTC by 1,409.3% in the fourth quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock worth $294,006,000 after buying an additional 1,569,081 shares in the last quarter. Twin Focus Capital Partners LLC purchased a new stake in PTC in the fourth quarter worth approximately $177,081,000. Congress Asset Management Co. MA boosted its stake in PTC by 37.6% in the fourth quarter. Congress Asset Management Co. MA now owns 47,984 shares of the technology company’s stock worth $8,395,000 after buying an additional 13,124 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in PTC in the fourth quarter worth approximately $606,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Price Performance

Shares of NASDAQ:PTC opened at $172.68 on Tuesday. 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 0.51, a current ratio of 0.76 and a quick ratio of 0.76. The business has a fifty day moving average price of $178.49 and a 200-day moving average price of $178.13. The company has a market capitalization of $20.67 billion, a PE ratio of 72.25, a PEG ratio of 3.26 and a beta of 1.18.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.23. PTC had a return on equity of 13.76% and a net margin of 12.84%. The firm had revenue of $603.07 million during the quarter, compared to the consensus estimate of $575.53 million. As a group, equities analysts expect that PTC Inc. will post 3.48 EPS for the current fiscal year.

Insider Activity at PTC

In related news, COO Michael Ditullio sold 6,592 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the sale, the chief operating officer now directly owns 53,148 shares of the company’s stock, valued at $9,734,056.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other PTC news, insider Catherine Kniker sold 1,254 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.45, for a total value of $217,506.30. Following the transaction, the insider now directly owns 13,598 shares of the company’s stock, valued at $2,358,573.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Ditullio sold 6,592 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $183.15, for a total value of $1,207,324.80. Following the completion of the transaction, the chief operating officer now directly owns 53,148 shares in the company, valued at approximately $9,734,056.20. The disclosure for this sale can be found here. Insiders have sold 11,846 shares of company stock valued at $2,137,631 over the last ninety days. Insiders own 1.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PTC. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Barclays upped their target price on PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 target price on shares of PTC in a research note on Friday, April 12th. Citigroup cut their target price on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Finally, Mizuho reaffirmed a “neutral” rating and issued a $190.00 target price (down previously from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.73.

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.