Applied Finance Capital Management LLC Buys New Position in PTC Inc. (NASDAQ:PTC)

Key Points

• Applied Finance Capital Management LLC invested approximately $465,000 in PTC Inc. by acquiring 2,998 shares in the first quarter, as reported in their 13F filing.
• Total institutional ownership of PTC Inc. stands at 95.14%, with several institutions, including T. Rowe Price and Geode Capital, increasing their stakes significantly in recent quarters.
• PTC Inc. reported a strong quarterly performance, exceeding EPS estimates at $1.79 and achieving revenue of $636.37 million, marking a 5.5% year-over-year increase.

Applied Finance Capital Management LLC acquired a new stake in PTC Inc. (NASDAQ:PTC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,998 shares of the technology company's stock, valued at approximately $465,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of PTC in the fourth quarter valued at $30,000. Bartlett & CO. Wealth Management LLC purchased a new position in PTC during the first quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in PTC during the first quarter worth about $33,000. Pinney & Scofield Inc. purchased a new position in PTC during the fourth quarter worth about $47,000. Finally, Kapitalo Investimentos Ltda purchased a new position in PTC during the fourth quarter worth about $51,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PTC has been the topic of several recent analyst reports. Stifel Nicolaus reduced their target price on PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. UBS Group reiterated a "buy" rating on shares of PTC in a research report on Tuesday. BMO Capital Markets increased their target price on PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $160.00 target price (down from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Finally, Cantor Fitzgerald set a $120.00 price objective on PTC and gave the stock an "overweight" rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $188.79.

PTC Price Performance

Shares of PTC traded down $0.69 during midday trading on Wednesday, reaching $203.51. The stock had a trading volume of 290,451 shares, compared to its average volume of 1,068,690. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $213.14. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99. The firm's 50 day moving average price is $178.85 and its 200-day moving average price is $169.25. The company has a market capitalization of $24.41 billion, a P/E ratio of 55.91, a P/E/G ratio of 2.78 and a beta of 1.17.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.42. The company had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. PTC had a return on equity of 15.35% and a net margin of 18.77%. PTC's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 earnings per share. On average, analysts forecast that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following the sale, the executive vice president directly owned 17,731 shares of the company's stock, valued at $2,836,960. The trade was a 10.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is owned by company insiders.

PTC Company 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.