PTC Inc. (NASDAQ:PTC) Position Boosted by Oppenheimer Asset Management Inc.

Posted by Defense World Staff on Aug 27th, 2023

Oppenheimer Asset Management Inc. lifted its stake in shares of PTC Inc. (NASDAQ:PTC – Free Report) by 29.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,496 shares of the technology company’s stock after purchasing an additional 1,464 shares during the period. Oppenheimer Asset Management Inc.’s holdings in PTC were worth $833,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Fifth Third Bancorp lifted its holdings in PTC by 13.4% in the first quarter. Fifth Third Bancorp now owns 2,010 shares of the technology company’s stock worth $258,000 after acquiring an additional 238 shares during the last quarter. Parnassus Investments LLC lifted its holdings in PTC by 34.4% in the first quarter. Parnassus Investments LLC now owns 3,544 shares of the technology company’s stock worth $454,000 after acquiring an additional 907 shares during the last quarter. Ieq Capital LLC bought a new position in PTC in the fourth quarter worth about $239,000. Westpac Banking Corp lifted its holdings in PTC by 43.8% in the first quarter. Westpac Banking Corp now owns 11,015 shares of the technology company’s stock worth $1,412,000 after acquiring an additional 3,357 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of PTC by 2.7% during the first quarter. Arizona State Retirement System now owns 32,444 shares of the technology company’s stock valued at $4,160,000 after buying an additional 857 shares during the last quarter. Institutional investors own 91.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PTC shares. Rosenblatt Securities lifted their price target on PTC from $148.00 to $159.00 in a report on Thursday, July 27th. Royal Bank of Canada lifted their price target on PTC from $158.00 to $165.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Barclays lifted their price target on PTC from $163.00 to $166.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Robert W. Baird lifted their price target on PTC from $168.00 to $173.00 in a report on Monday, July 17th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $150.00 price target on shares of PTC in a report on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.92.

Get Our Latest Stock Analysis on PTC

Insiders Place Their Bets

In related news, Director Paul A. Lacy sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $150.48, for a total value of $376,200.00. Following the completion of the transaction, the director now owns 19,136 shares of the company’s stock, valued at approximately $2,879,585.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kristian Talvitie sold 3,022 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $132.65, for a total value of $400,868.30. Following the completion of the transaction, the chief financial officer now owns 49,618 shares of the company’s stock, valued at approximately $6,581,827.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul A. Lacy sold 2,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 19,136 shares of the company’s stock, valued at approximately $2,879,585.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,322 shares of company stock worth $2,312,908. 8.26% of the stock is owned by insiders.

PTC Trading Up 3.3 %

PTC stock opened at $144.85 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $17.21 billion, a price-to-earnings ratio of 56.36, a price-to-earnings-growth ratio of 3.49 and a beta of 1.19. PTC Inc. has a 1 year low of $101.82 and a 1 year high of $152.09. The firm’s 50 day moving average price is $142.70 and its two-hundred day moving average price is $133.53.

PTC (NASDAQ:PTC – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.04). The business had revenue of $542.34 million during the quarter, compared to analyst estimates of $530.35 million. PTC had a return on equity of 15.41% and a net margin of 14.90%. On average, research analysts predict that PTC Inc. will post 2.96 EPS for the current fiscal year.

About PTC

(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.