Arkadios Wealth Advisors Purchases New Shares in PTC Inc. (NASDAQ:PTC)

Key Points

• Arkadios Wealth Advisors acquired 8,814 shares of PTC Inc., valued at approximately $1,366,000, indicating growing institutional interest in the company.
• Several notable institutions have significantly increased their positions in PTC, including T. Rowe Price, which boosted its stake by 11.4% during the fourth quarter, now holding over 17 million shares.
• PTC's most recent earnings report showed an EPS of $1.64, exceeding analyst estimates by $0.42, and revenue increased by 24.2% compared to the previous year.

Arkadios Wealth Advisors purchased a new stake in PTC Inc. (NASDAQ:PTC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,814 shares of the technology company's stock, valued at approximately $1,366,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PTC. T. Rowe Price Investment Management Inc. grew its position in shares of PTC by 11.4% during 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 acquiring an additional 1,773,653 shares during the period. Geode Capital Management LLC increased its position in PTC by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company's stock worth $555,626,000 after buying an additional 67,504 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of PTC by 41.6% in 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. Fernbridge Capital Management LP lifted its position in shares of PTC by 6.0% during the 4th quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company's stock valued at $278,484,000 after buying an additional 85,564 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of PTC by 11.0% during the 4th quarter. Northern Trust Corp now owns 1,313,273 shares of the technology company's stock valued at $241,472,000 after buying an additional 129,910 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Trading Up 1.1%

Shares of PTC stock traded up $2.26 on Wednesday, hitting $217.05. 319,659 shares of the company's stock traded hands, compared to its average volume of 1,083,579. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89. PTC Inc. has a one year low of $133.38 and a one year high of $219.69. The company's fifty day simple moving average is $183.10 and its 200 day simple moving average is $170.17. The stock has a market capitalization of $26.00 billion, a price-to-earnings ratio of 51.20, a P/E/G ratio of 2.26 and a beta of 1.17.

PTC (NASDAQ:PTC - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $582.12 million. During the same quarter last year, the firm earned $0.98 EPS. The firm's quarterly revenue was up 24.2% compared to the same quarter last year. Equities analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PTC shares. Piper Sandler upped their price target on PTC from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Oppenheimer upped their price target on PTC from $225.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Wells Fargo & Company reaffirmed an "overweight" rating on shares of PTC in a research report on Tuesday, July 29th. Stifel Nicolaus raised their price target on PTC from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Mizuho cut their price target on PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, PTC currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.14.

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.