Mackenzie Financial Corp Has $2.43 Million Stock Position in PTC Inc. (NASDAQ:PTC)

Key Points

• Mackenzie Financial Corp increased its stake in PTC Inc. by 44.4%, acquiring a total of 15,691 shares valued at approximately $2.43 million at the end of the first quarter.
• PTC's recent quarterly earnings showed an EPS of $1.64, exceeding expectations, with revenue reaching $643.94 million, reflecting a 24.2% increase year-over-year.
• Current market sentiment is mixed with analysts providing various price targets; BMO Capital Markets set a new high target of $231.00, while JPMorgan Chase & Co. lowered theirs to $160.00.

Mackenzie Financial Corp grew its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 44.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,691 shares of the technology company's stock after purchasing an additional 4,823 shares during the period. Mackenzie Financial Corp's holdings in PTC were worth $2,431,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PTC. LPL Financial LLC increased its position in PTC by 14.6% during the fourth 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 during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in PTC by 20.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,690 shares of the technology company's stock valued at $862,000 after purchasing an additional 789 shares during the period. Huntington National Bank boosted its stake in PTC by 111.5% during the 4th quarter. Huntington National Bank now owns 461 shares of the technology company's stock valued at $85,000 after purchasing an additional 243 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in PTC during the 4th quarter valued at approximately $7,217,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in PTC during the 4th quarter valued at approximately $530,000. Hedge funds and other institutional investors own 95.14% of the company's stock.

PTC Stock Performance

Shares of PTC stock traded down $1.62 on Tuesday, reaching $214.79. The stock had a trading volume of 1,054,903 shares, compared to its average volume of 1,640,173. 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 firm's 50-day moving average is $182.23 and its two-hundred day moving average is $169.86. The firm has a market capitalization of $25.73 billion, a price-to-earnings ratio of 50.66, a P/E/G ratio of 2.26 and a beta of 1.17. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $219.69.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly 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 for the quarter, compared to analyst estimates of $582.12 million. During the same quarter in the prior year, the business earned $0.98 EPS. PTC's quarterly revenue was up 24.2% on a year-over-year basis. On average, research analysts expect that PTC Inc. will post 4.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PTC shares. Rosenblatt Securities restated a "buy" rating and set a $204.00 target price on shares of PTC in a research note on Tuesday, July 29th. Barclays set a $233.00 target price on PTC in a research report on Thursday, July 31st. KeyCorp reissued an "overweight" rating and set a $245.00 target price (up from $192.00) on shares of PTC in a research report on Thursday, July 31st. Stifel Nicolaus lifted their target price on shares of PTC from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets lifted their target price on shares of PTC from $187.00 to $231.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $202.14.

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the 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 transaction, the executive vice president owned 17,731 shares in the company, valued at $2,836,960. This represents a 10.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.32% of the company's stock.

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.