Congress Asset Management Co. Buys 17,134 Shares of PTC Inc. $PTC

Congress Asset Management Co. grew its stake in shares of PTC Inc. (NASDAQ:PTC) by 13.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 146,492 shares of the technology company’s stock after acquiring an additional 17,134 shares during the quarter. Congress Asset Management Co. owned about 0.12% of PTC worth $29,741,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. SVB Wealth LLC bought a new stake in PTC during the first quarter worth about $41,000. Assetmark Inc. raised its position in shares of PTC by 339.3% in the 2nd quarter. Assetmark Inc. now owns 268 shares of the technology company’s stock valued at $46,000 after buying an additional 207 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of PTC by 34.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company’s stock worth $46,000 after acquiring an additional 76 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in shares of PTC during the 2nd quarter worth approximately $53,000. Finally, MUFG Securities EMEA plc bought a new position in PTC in the second quarter valued at approximately $61,000. Institutional investors own 95.14% of the company’s stock.

Insider Activity at PTC

In other news, EVP Staats Aaron C. Von sold 6,328 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the completion of the transaction, the executive vice president owned 22,461 shares of the company’s stock, valued at approximately $3,925,958.19. This trade represents a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kristian Talvitie sold 50,291 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total transaction of $8,707,383.74. Following the completion of the sale, the executive vice president directly owned 12,386 shares in the company, valued at approximately $2,144,512.04. This represents a 80.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 61,277 shares of company stock valued at $10,624,076. Corporate insiders own 0.32% of the company’s stock.

PTC Price Performance

PTC stock opened at $178.17 on Monday. The stock has a 50-day moving average price of $184.31 and a two-hundred day moving average price of $192.38. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $219.69. The company has a market capitalization of $21.28 billion, a PE ratio of 29.02, a P/E/G ratio of 2.76 and a beta of 1.03. The company has a current ratio of 1.12, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share for the quarter. The company had revenue of $1.76 billion for the quarter. PTC had a return on equity of 23.03% and a net margin of 27.05%. Analysts expect that PTC Inc. will post 4.46 EPS for the current year.

Wall Street Analyst Weigh In

PTC has been the subject of several recent analyst reports. Zacks Research cut PTC from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. BMO Capital Markets lowered their price target on PTC from $231.00 to $219.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Wall Street Zen lowered PTC from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Piper Sandler decreased their target price on PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Finally, Rosenblatt Securities dropped their target price on shares of PTC from $227.00 to $220.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.92.

About PTC

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.