Altfest L J & Co. Inc. Invests $646,000 in PTC Inc. (NASDAQ:PTC)

Key Points

• Altfest L J & Co. Inc. acquired 4,168 shares of PTC Inc., valued at approximately $646,000, during the first quarter.
• Institutional investors dominate PTC's ownership, holding 95.14% of the company’s stock, with significant stake increases from firms like T. Rowe Price and Janus Henderson.
• PTC reported a revenue increase of 24.2% year-over-year, with a quarterly EPS of $1.64, surpassing estimates by $0.42.

Altfest L J & Co. Inc. acquired a new position in shares of PTC Inc. (NASDAQ:PTC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,168 shares of the technology company's stock, valued at approximately $646,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PTC. T. Rowe Price Investment Management Inc. raised its stake in PTC by 11.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company's stock valued at $3,174,432,000 after purchasing an additional 1,773,653 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of PTC by 41.6% during the first quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock valued at $445,687,000 after buying an additional 844,418 shares during the period. GAMMA Investing LLC increased its stake in PTC by 13,184.0% in the first quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company's stock valued at $53,517,000 after purchasing an additional 342,784 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in PTC during the fourth quarter worth about $59,506,000. Finally, Janus Henderson Group PLC boosted its stake in PTC by 1,753.2% in the 4th quarter. Janus Henderson Group PLC now owns 298,627 shares of the technology company's stock worth $54,909,000 after buying an additional 282,513 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of PTC from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Rosenblatt Securities restated a "buy" rating and set a $204.00 price objective on shares of PTC in a report on Tuesday, July 29th. Robert W. Baird raised their price objective on PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. KeyCorp reiterated an "overweight" rating and issued a $245.00 target price (up previously from $192.00) on shares of PTC in a research note on Thursday, July 31st. Finally, Oppenheimer boosted their price target on PTC from $225.00 to $240.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.14.

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $216.29, for a total transaction of $429,984.52. Following the completion of the transaction, the executive vice president owned 15,743 shares of the company's stock, valued at approximately $3,405,053.47. This represents a 11.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is owned by corporate insiders.

PTC Stock Up 0.4%

PTC stock traded up $0.78 during mid-day trading on Tuesday, hitting $204.07. The stock had a trading volume of 241,782 shares, compared to its average volume of 1,077,611. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $219.69. The company has a fifty day moving average of $186.31 and a 200 day moving average of $170.58. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $24.44 billion, a price-to-earnings ratio of 48.13, a PEG ratio of 2.18 and a beta of 1.17.

PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.22 by $0.42. PTC had a net margin of 20.74% and a return on equity of 17.09%. The company had revenue of $643.94 million during the quarter, compared to the consensus estimate of $582.12 million. During the same period in the previous year, the firm posted $0.98 earnings per share. The company's revenue for the quarter was up 24.2% compared to the same quarter last year. On average, equities analysts expect that PTC Inc. will post 4.46 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.