Banque Cantonale Vaudoise Buys New Position in PTC Inc. (NASDAQ:PTC)

Key Points

• Banque Cantonale Vaudoise has initiated a new position in PTC Inc. by acquiring 7,970 shares valued at approximately $1.235 million during the first quarter.
• Analysts have varying ratings on PTC, with BMO Capital Markets raising the price target from $187.00 to $231.00, while six analysts maintain a hold rating and eleven have a buy rating.
• PTC's latest earnings report shows earnings of $1.64 per share, surpassing expectations, with revenue of $643.94 million, representing a 24.2% increase year-over-year.

Banque Cantonale Vaudoise 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 7,970 shares of the technology company's stock, valued at approximately $1,235,000.

Several other large investors have also bought and sold shares of PTC. Wahed Invest LLC grew its holdings in shares of PTC by 2.1% in the fourth quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock valued at $539,000 after acquiring an additional 61 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in PTC by 1.9% during the first quarter. D.A. Davidson & CO. now owns 3,755 shares of the technology company's stock worth $582,000 after acquiring an additional 70 shares during the period. Portside Wealth Group LLC boosted its position in PTC by 2.4% in the first quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company's stock worth $514,000 after purchasing an additional 78 shares during the last quarter. Strategic Advisors LLC grew its stake in PTC by 1.1% in the 1st quarter. Strategic Advisors LLC now owns 7,729 shares of the technology company's stock valued at $1,198,000 after purchasing an additional 83 shares during the period. Finally, Dynasty Wealth Management LLC increased its position in shares of PTC by 5.8% during the 1st quarter. Dynasty Wealth Management LLC now owns 1,525 shares of the technology company's stock valued at $236,000 after purchasing an additional 83 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PTC shares. Wells Fargo & Company reissued an "overweight" rating on shares of PTC in a report on Tuesday. BMO Capital Markets lifted their price objective on shares of PTC from $187.00 to $231.00 and gave the stock an "outperform" rating in a research report on Thursday. Piper Sandler increased their target price on shares of PTC from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday. Wall Street Zen cut shares of PTC from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 price objective on shares of PTC in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $202.14.

PTC Price Performance

Shares of NASDAQ PTC opened at $214.81 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $219.69. The stock has a market cap of $25.77 billion, a PE ratio of 50.66, a price-to-earnings-growth ratio of 2.76 and a beta of 1.17. The stock has a fifty day moving average of $180.41 and a 200-day moving average of $169.70.

PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.42. PTC had a return on equity of 17.40% and a net margin of 20.74%. The business had revenue of $643.94 million during the quarter, compared to analyst estimates of $582.12 million. During the same quarter in the previous year, the firm earned $0.98 EPS. The company's quarterly revenue was up 24.2% compared to the same quarter last year. Equities research analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the sale, the executive vice president owned 17,731 shares of the company's stock, valued at approximately $2,836,960. This represents a 10.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.32% of the company's stock.

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.

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