Commerce Bank Lowers Stock Holdings in PTC Inc. (NASDAQ:PTC)

Key Points

• Commerce Bank reduced its holdings in PTC Inc. by 9.4% during the 1st quarter, now owning approximately 282,479 shares valued at $43.77 million.
• PTC recently reported an EPS of $1.64 for the quarter, exceeding estimates, with revenue reaching $643.94 million, up 24.2% compared to the previous year.
• Several analysts raised their price targets for PTC, with Oppenheimer increasing it from $225 to $240, and the stock currently holds a consensus rating of "Moderate Buy".

Commerce Bank reduced its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 282,479 shares of the technology company's stock after selling 29,362 shares during the period. Commerce Bank owned about 0.24% of PTC worth $43,770,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Commonwealth Equity Services LLC raised its position in shares of PTC by 16.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,632 shares of the technology company's stock worth $668,000 after purchasing an additional 523 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in PTC during the 4th quarter worth approximately $207,000. LPL Financial LLC increased its stake in PTC by 14.6% during the 4th quarter. LPL Financial LLC now owns 17,914 shares of the technology company's stock worth $3,294,000 after buying an additional 2,285 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of PTC by 6.2% during the fourth quarter. Blair William & Co. IL now owns 2,727 shares of the technology company's stock valued at $501,000 after acquiring an additional 159 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of PTC in the fourth quarter valued at approximately $77,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PTC

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the sale, the executive vice president directly owned 17,731 shares of the company's stock, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by company insiders.

PTC Stock Performance

NASDAQ:PTC opened at $214.81 on Friday. The company's 50-day moving average is $180.41 and its two-hundred day moving average is $169.70. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $219.69. 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 has a market capitalization of $25.77 billion, a price-to-earnings ratio of 50.66, a PEG ratio of 2.76 and a beta of 1.17.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly 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. The firm had revenue of $643.94 million for the quarter, compared to analyst estimates of $582.12 million. PTC had a net margin of 20.74% and a return on equity of 17.40%. The business's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 EPS. Analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PTC shares. Oppenheimer lifted their price target on PTC from $225.00 to $240.00 and gave the stock an "outperform" rating in a research note on Thursday. Piper Sandler lifted their target price on shares of PTC from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday. UBS Group reaffirmed a "buy" rating on shares of PTC in a report on Tuesday. Royal Bank Of Canada raised their price target on shares of PTC from $224.00 to $235.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Robert W. Baird boosted their price target on shares of PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company 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.

Want to see what other hedge funds are holding PTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PTC Inc. (NASDAQ:PTC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.