Amalgamated Bank Increases Position in PTC Inc. (NASDAQ:PTC)

Amalgamated Bank grew its holdings in shares of PTC Inc. (NASDAQ:PTC) by 0.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 25,128 shares of the technology company’s stock after acquiring an additional 164 shares during the period. Amalgamated Bank’s holdings in PTC were worth $4,565,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PTC. First Horizon Advisors Inc. increased its stake 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 in the last quarter. Blue Trust Inc. increased its position in shares of PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. Rothschild Investment LLC purchased a new position in PTC in the 2nd quarter worth approximately $29,000. International Assets Investment Management LLC bought a new position in PTC in the 2nd quarter valued at approximately $30,000. Finally, OFI Invest Asset Management purchased a new stake in PTC during the 2nd quarter valued at $31,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Price Performance

Shares of PTC stock opened at $175.90 on Friday. The stock has a market cap of $21.06 billion, a P/E ratio of 73.60, a P/E/G ratio of 3.24 and a beta of 1.18. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The stock’s fifty day moving average is $174.25 and its 200 day moving average is $178.57. PTC Inc. has a one year low of $134.61 and a one year high of $194.24.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $518.64 million for the quarter, compared to the consensus estimate of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. Sell-side analysts anticipate that PTC Inc. will post 3.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PTC shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $202.00 price target on shares of PTC in a 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. Mizuho reiterated a “neutral” rating and issued a $190.00 price target (down from $200.00) on shares of PTC in a research note on Tuesday, June 4th. 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. Finally, Rosenblatt Securities lifted their target price on shares of PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.18.

Insider Buying and Selling at PTC

In other news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $179.33, for a total value of $717,320.00. Following the sale, the director now directly owns 48,137 shares in the company, valued at approximately $8,632,408.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Robert Schechter sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total value of $858,650.00. Following the completion of the sale, the director now owns 59,616 shares in the company, valued at approximately $10,237,855.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Janice Chaffin sold 4,000 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $179.33, for a total transaction of $717,320.00. Following the completion of the sale, the director now directly owns 48,137 shares in the company, valued at $8,632,408.21. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock valued at $2,431,330 over the last 90 days. 1.17% of the stock is currently owned by corporate insiders.

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.