Resources Management Corp CT ADV Purchases 348 Shares of PTC Inc. (NASDAQ:PTC)

Resources Management Corp CT ADV lifted its holdings in PTC Inc. (NASDAQ:PTC) by 95.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 713 shares of the technology company’s stock after buying an additional 348 shares during the period. Resources Management Corp CT ADV’s holdings in PTC were worth $130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PTC. Wellington Management Group LLP lifted 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 valued at $294,006,000 after buying an additional 1,569,081 shares during the period. Twin Focus Capital Partners LLC acquired a new position in shares of PTC during the 4th quarter valued at $177,081,000. Balyasny Asset Management L.P. lifted its position in shares of PTC by 173.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock valued at $95,050,000 after acquiring an additional 344,853 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in PTC by 66.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after acquiring an additional 310,092 shares in the last quarter. Finally, Matrix Capital Management Company LP acquired a new stake in PTC in the first quarter worth $56,076,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on PTC. Piper Sandler raised their price objective on PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $202.00 price objective on shares of PTC in a research note on Thursday, August 1st. Rosenblatt Securities raised their price target on shares of PTC from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Mizuho reaffirmed a “neutral” rating and issued a $190.00 price objective (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Finally, StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Four research 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $200.18.

PTC Price Performance

PTC stock opened at $177.79 on Wednesday. The business’s 50 day simple moving average is $173.99 and its 200 day simple moving average is $178.43. PTC Inc. has a 12 month low of $134.61 and a 12 month high of $194.24. The company has a market cap of $21.36 billion, a price-to-earnings ratio of 74.39, a PEG ratio of 3.32 and a beta of 1.18. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43.

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

Insider Activity

In related news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction on Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the completion of the sale, the director now owns 44,137 shares of the company’s stock, valued at $7,562,433.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other PTC news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the transaction, the director now owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Staats Aaron C. Von sold 1,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock worth $2,431,330 in the last three months. Corporate insiders own 1.17% of the company’s stock.

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.