Kentucky Retirement Systems Insurance Trust Fund Makes New $533,000 Investment in PTC Inc. (NASDAQ:PTC)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in PTC Inc. (NASDAQ:PTC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,442 shares of the technology company's stock, valued at approximately $533,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wahed Invest LLC raised its position in shares of PTC by 2.1% in the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock valued at $539,000 after buying an additional 61 shares in the last quarter. Allworth Financial LP raised its position in shares of PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company's stock valued at $35,000 after buying an additional 69 shares in the last quarter. Portside Wealth Group LLC raised its position in shares of PTC by 2.4% in the 1st quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company's stock valued at $514,000 after buying an additional 78 shares in the last quarter. Otter Creek Advisors LLC raised its position in shares of PTC by 0.4% in the 4th quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company's stock valued at $3,527,000 after buying an additional 80 shares in the last quarter. Finally, Strategic Advisors LLC raised its position in shares of 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 buying an additional 83 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

PTC Trading Up 2.1%

NASDAQ:PTC opened at $169.93 on Wednesday. The firm's fifty day moving average is $163.58 and its 200-day moving average is $169.30. 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 52 week low of $133.38 and a 52 week high of $203.09. The firm has a market cap of $20.38 billion, a P/E ratio of 46.68, a P/E/G ratio of 2.28 and a beta of 1.18.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.42. PTC had a net margin of 18.77% and a return on equity of 15.35%. The company had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. During the same period in the prior year, the firm posted $1.46 EPS. The company's quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts expect that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Activity at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction 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 transaction, the executive vice president now owns 17,731 shares in the company, valued at approximately $2,836,960. This represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PTC shares. Rosenblatt Securities restated a "buy" rating and issued a $204.00 target price on shares of PTC in a research report on Thursday, May 1st. Wall Street Zen cut shares of PTC from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. BMO Capital Markets boosted their target price on shares of PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Robert W. Baird lifted their price target on shares of PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Piper Sandler decreased their price target on shares of PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, PTC currently has an average rating of "Hold" and a consensus target price of $188.69.

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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