Hennion & Walsh Asset Management Inc. Purchases 747 Shares of PTC Inc. (NASDAQ:PTC)

Posted by on Mar 23rd, 2023

Hennion & Walsh Asset Management Inc. increased its position in PTC Inc. (NASDAQ:PTC – Get Rating) by 7.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,844 shares of the technology company’s stock after purchasing an additional 747 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in PTC were worth $1,302,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PTC. Lone Pine Capital LLC purchased a new stake in PTC in the 3rd quarter valued at $263,591,000. Palestra Capital Management LLC purchased a new stake in PTC in the 3rd quarter valued at $113,237,000. Rivulet Capital LLC purchased a new stake in PTC in the 2nd quarter valued at $62,374,000. Select Equity Group L.P. purchased a new stake in shares of PTC during the 1st quarter valued at $43,148,000. Finally, BlackRock Inc. increased its position in shares of PTC by 4.3% during the 3rd quarter. BlackRock Inc. now owns 8,736,220 shares of the technology company’s stock valued at $913,806,000 after purchasing an additional 358,134 shares during the last quarter. 86.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PTC shares. Rosenblatt Securities raised their target price on PTC from $142.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Citigroup raised their target price on PTC from $135.00 to $147.00 and gave the company a “neutral” rating in a research report on Friday, January 27th. Berenberg Bank started coverage on PTC in a research report on Wednesday, January 11th. They set a “buy” rating and a $155.00 target price for the company. Barclays raised their target price on PTC from $144.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. Finally, Loop Capital raised their target price on PTC from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.55.

PTC Trading Down 1.5 %

Shares of PTC opened at $118.57 on Thursday. PTC Inc. has a fifty-two week low of $96.55 and a fifty-two week high of $139.91. The business has a 50-day moving average of $128.24 and a 200 day moving average of $121.90. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market cap of $14.02 billion, a P/E ratio of 41.03, a price-to-earnings-growth ratio of 2.69 and a beta of 1.18.

PTC (NASDAQ:PTC – Get Rating) last issued its earnings results on Wednesday, February 1st. The technology company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.01). PTC had a return on equity of 18.20% and a net margin of 17.62%. The company had revenue of $465.91 million during the quarter, compared to the consensus estimate of $464.43 million. During the same quarter in the prior year, the business earned $0.65 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, research analysts forecast that PTC Inc. will post 2.97 EPS for the current year.

Insiders Place Their Bets

In other PTC news, Director Blake D. Moret sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $122.43, for a total value of $2,448,600.00. Following the completion of the transaction, the director now owns 7,245,696 shares in the company, valued at approximately $887,090,561.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Blake D. Moret sold 20,000 shares of PTC stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $122.43, for a total transaction of $2,448,600.00. Following the completion of the sale, the director now owns 7,245,696 shares in the company, valued at approximately $887,090,561.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Blake D. Moret sold 21,779 shares of PTC stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $129.06, for a total value of $2,810,797.74. Following the sale, the director now owns 7,505,064 shares of the company’s stock, valued at approximately $968,603,559.84. The disclosure for this sale can be found here. Insiders sold a total of 201,479 shares of company stock worth $25,741,693 in the last quarter. 8.26% of the stock is owned by company insiders.

About PTC

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PTC, Inc is a global software company, which engages in the provision of portfolio of innovative digital solutions that work together to transform how physical products are engineered, manufactured, and serviced. It operates through the Software Products and Professional Services segments. The Software Products segment includes license, subscription, and related support revenue for its products.

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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