1,386 Shares in PTC Inc. (NASDAQ:PTC) Acquired by Bridges Investment Management Inc.

Bridges Investment Management Inc. bought a new stake in PTC Inc. (NASDAQ:PTC) during the 2nd quarter, Holdings Channel.com reports. The firm bought 1,386 shares of the technology company’s stock, valued at approximately $252,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC lifted its stake in shares of PTC by 180.8% in the 1st quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock valued at $5,115,000 after purchasing an additional 17,430 shares during the period. Portfolio Design Labs LLC acquired a new position in PTC in the fourth quarter valued at approximately $4,316,000. Swedbank AB bought a new position in shares of PTC during the 1st quarter worth approximately $9,849,000. BNP Paribas Financial Markets grew its position in shares of PTC by 133.1% during the 1st quarter. BNP Paribas Financial Markets now owns 122,819 shares of the technology company’s stock worth $23,205,000 after buying an additional 70,131 shares during the period. Finally, Norden Group LLC increased its stake in shares of PTC by 1,600.7% in the 1st quarter. Norden Group LLC now owns 55,308 shares of the technology company’s stock valued at $10,450,000 after acquiring an additional 52,056 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Transactions at PTC

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 stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the sale, the executive vice president now directly owns 13,902 shares of the company’s stock, valued at $2,363,340. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Staats Aaron C. Von sold 1,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were 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 owns 13,902 shares in the company, valued at $2,363,340. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert Schechter sold 5,000 shares of PTC stock in a transaction dated 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 sale, the director now directly owns 59,616 shares in the company, valued at approximately $10,237,855.68. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $2,431,330 in the last 90 days. Insiders own 1.17% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PTC Trading Down 1.8 %

NASDAQ PTC opened at $175.90 on Monday. 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 market capitalization of $21.06 billion, a P/E ratio of 73.60, a PEG ratio of 3.24 and a beta of 1.18. The business has a fifty day simple moving average of $174.25 and a 200 day simple moving average of $178.54. PTC Inc. has a 12 month low of $134.61 and a 12 month high of $194.24.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share 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 company had revenue of $518.64 million for the quarter, compared to analyst estimates of $533.04 million. On average, analysts predict that PTC Inc. will post 3.52 EPS for the current fiscal year.

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.