Victory Capital Management Inc. Has $9.56 Million Stock Position in PTC Inc. (NASDAQ:PTC)

Posted by on Aug 1st, 2023

Victory Capital Management Inc. grew its position in PTC Inc. (NASDAQ:PTC – Free Report) by 1.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 74,519 shares of the technology company’s stock after buying an additional 858 shares during the period. Victory Capital Management Inc. owned 0.06% of PTC worth $9,556,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PTC. Fifth Third Bancorp boosted its position in PTC by 13.4% during the first quarter. Fifth Third Bancorp now owns 2,010 shares of the technology company’s stock valued at $258,000 after purchasing an additional 238 shares during the last quarter. Parnassus Investments LLC increased its stake in shares of PTC by 34.4% during the first quarter. Parnassus Investments LLC now owns 3,544 shares of the technology company’s stock worth $454,000 after purchasing an additional 907 shares during the period. Ieq Capital LLC bought a new position in shares of PTC during the fourth quarter worth approximately $239,000. Flputnam Investment Management Co. bought a new position in shares of PTC during the fourth quarter worth approximately $1,004,000. Finally, Arizona State Retirement System increased its stake in PTC by 2.7% during the 1st quarter. Arizona State Retirement System now owns 32,444 shares of the technology company’s stock worth $4,160,000 after acquiring an additional 857 shares during the period. 91.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PTC

In other news, Director Paul A. Lacy sold 2,500 shares of PTC stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $150.48, for a total value of $376,200.00. Following the transaction, the director now directly owns 19,136 shares of the company’s stock, valued at approximately $2,879,585.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Paul A. Lacy sold 2,500 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $150.48, for a total transaction of $376,200.00. Following the transaction, the director now directly owns 19,136 shares of the company’s stock, valued at $2,879,585.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Ditullio sold 3,000 shares of PTC stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $143.47, for a total value of $430,410.00. Following the completion of the transaction, the chief operating officer now owns 60,674 shares in the company, valued at $8,704,898.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 199,547 shares of company stock valued at $26,197,784. 8.26% of the stock is owned by company insiders.

PTC Stock Down 0.6 %

PTC stock opened at $145.81 on Tuesday. The company’s 50 day moving average price is $140.31 and its 200 day moving average price is $132.15. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.73 and a current ratio of 0.71. PTC Inc. has a fifty-two week low of $101.82 and a fifty-two week high of $152.09. The firm has a market capitalization of $17.26 billion, a price-to-earnings ratio of 56.74, a PEG ratio of 3.40 and a beta of 1.18.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. VNET Group restated a “maintains” rating on shares of PTC in a research note on Thursday, April 27th. Royal Bank of Canada lifted their target price on PTC from $158.00 to $165.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Rosenblatt Securities lifted their price objective on PTC from $148.00 to $159.00 in a research report on Thursday, July 27th. Citigroup decreased their target price on PTC from $147.00 to $140.00 in a research report on Monday, April 24th. Finally, Barclays boosted their target price on PTC from $163.00 to $166.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, PTC presently has an average rating of “Moderate Buy” and a consensus price target of $160.46.

PTC Profile

(Free Report)

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers end-to-end capabilities to enable digital transformation; and Vuforia, which enables the creation of AR.

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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