GAMMA Investing LLC Increases Stock Position in PTC Inc. (NASDAQ:PTC)

GAMMA Investing LLC raised its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 13,184.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 345,384 shares of the technology company's stock after buying an additional 342,784 shares during the period. GAMMA Investing LLC owned approximately 0.29% of PTC worth $53,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PTC. Aster Capital Management DIFC Ltd purchased a new stake in shares of PTC during the 4th quarter worth $30,000. Allworth Financial LP lifted its position in shares of PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company's stock worth $35,000 after purchasing an additional 69 shares during the last quarter. Pinney & Scofield Inc. purchased a new stake in shares of PTC during the 4th quarter worth $47,000. Kapitalo Investimentos Ltda purchased a new stake in shares of PTC during the 4th quarter worth $51,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of PTC by 42.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the technology company's stock worth $60,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PTC shares. Robert W. Baird lifted their price target on shares of PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Barclays cut their price target on shares of PTC from $215.00 to $175.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus cut their price target on shares of PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $160.00 price target (down from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Finally, KeyCorp cut their price target on shares of PTC from $211.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, PTC has an average rating of "Moderate Buy" and a consensus target price of $187.15.

Insider Buying and Selling

In related news, Director Corinna Lathan sold 622 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the sale, the director now owns 7,604 shares of the company's stock, valued at approximately $1,182,650.12. The trade was a 7.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Staats Aaron C. Von sold 1,988 shares of the business'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 sale, the executive vice president now directly owns 17,731 shares in the company, valued at approximately $2,836,960. This represents a 10.08% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

PTC Stock Performance

Shares of PTC stock traded up $0.05 on Wednesday, reaching $168.17. 682,942 shares of the stock were exchanged, compared to its average volume of 878,749. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $203.09. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average price of $157.01 and a two-hundred day moving average price of $172.24. The firm has a market capitalization of $20.17 billion, a PE ratio of 51.90, a PEG ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly 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. PTC had a net margin of 16.95% and a return on equity of 14.49%. The business had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. During the same period in the previous year, the business posted $1.46 earnings per share. The business's revenue was up 5.5% compared to the same quarter last year. As a group, research analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

About PTC

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.