PTC Inc. (NASDAQ:PTC) Shares Bought by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC increased its holdings in PTC Inc. by 81.5% in the first quarter, now owning 5,175 shares valued at $802,000.
• PTC's latest earnings report revealed an earnings per share (EPS) of $1.64, significantly surpassing analysts' expectations of $1.22 and reflecting a revenue increase of 24.2% year-over-year.
• Analysts have raised their price targets for PTC, with Oppenheimer setting a new target of $240.00 and a consensus price target of $202.14, indicating a general optimism about the company's performance.

Headlands Technologies LLC grew its position in PTC Inc. (NASDAQ:PTC - Free Report) by 81.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,175 shares of the technology company's stock after buying an additional 2,324 shares during the period. Headlands Technologies LLC's holdings in PTC were worth $802,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Ontario Teachers Pension Plan Board purchased a new stake in PTC in the first quarter valued at approximately $520,000. Altfest L J & Co. Inc. purchased a new stake in PTC in the first quarter valued at approximately $646,000. Deutsche Bank AG raised its position in PTC by 13.6% in the first quarter. Deutsche Bank AG now owns 785,786 shares of the technology company's stock valued at $121,758,000 after purchasing an additional 93,788 shares during the period. Charles Schwab Investment Management Inc. raised its position in PTC by 5.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 865,034 shares of the technology company's stock valued at $134,037,000 after purchasing an additional 43,072 shares during the period. Finally, ASR Vermogensbeheer N.V. purchased a new stake in PTC in the first quarter valued at approximately $180,000. Hedge funds and other institutional investors own 95.14% of the company's stock.

Insider Activity at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $216.29, for a total transaction of $429,984.52. Following the transaction, the executive vice president directly owned 15,743 shares in the company, valued at $3,405,053.47. The trade was a 11.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.32% of the company's stock.

PTC Stock Performance

PTC traded up $1.26 on Tuesday, reaching $204.55. The company had a trading volume of 628,640 shares, compared to its average volume of 1,079,909. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $24.50 billion, a PE ratio of 48.24, a P/E/G ratio of 2.18 and a beta of 1.17. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $219.69. The stock has a 50-day moving average price of $186.31 and a 200-day moving average price of $170.58.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.42. PTC had a net margin of 20.74% and a return on equity of 17.09%. The business had revenue of $643.94 million during the quarter, compared to analysts' expectations of $582.12 million. During the same period in the prior year, the company earned $0.98 earnings per share. The business's revenue was up 24.2% compared to the same quarter last year. As a group, research analysts forecast that PTC Inc. will post 4.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wall Street Zen raised PTC from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Rosenblatt Securities reissued a "buy" rating and issued a $204.00 price target on shares of PTC in a research report on Tuesday, July 29th. Cantor Fitzgerald set a $120.00 price target on shares of PTC and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Wells Fargo & Company reissued an "overweight" rating on shares of PTC in a research report on Tuesday, July 29th. Finally, Oppenheimer raised their price target on shares of PTC from $225.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $202.14.

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.