Mediolanum International Funds Ltd Takes $1.75 Million Position in PTC Inc. (NASDAQ:PTC)

Key Points

• Mediolanum International Funds Ltd has acquired 11,283 shares in PTC Inc. valued at approximately $1.75 million, according to its latest SEC filing.
• PTC's stock recently traded at $204.19 with a market capitalization of $24.49 billion, reflecting a growing interest from institutional investors who own over 95% of the company.
• Despite positive quarterly earnings results, analysts have mixed ratings on PTC, with a consensus rating of "Moderate Buy" and various price targets ranging from $120.00 to $192.00.

Mediolanum International Funds Ltd bought a new position in PTC Inc. (NASDAQ:PTC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,283 shares of the technology company's stock, valued at approximately $1,747,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wahed Invest LLC grew its position in PTC by 2.1% during the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock worth $539,000 after purchasing an additional 61 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of PTC by 1.9% in the first quarter. D.A. Davidson & CO. now owns 3,755 shares of the technology company's stock worth $582,000 after buying an additional 70 shares during the period. Portside Wealth Group LLC grew its holdings in shares of PTC by 2.4% during the first 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. Strategic Advisors LLC raised its position in PTC by 1.1% during the first 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 during the period. Finally, Dynasty Wealth Management LLC lifted its stake in PTC by 5.8% in the 1st quarter. Dynasty Wealth Management LLC now owns 1,525 shares of the technology company's stock worth $236,000 after acquiring an additional 83 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Piper Sandler lifted their target price on PTC from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday. Robert W. Baird boosted their price objective on shares of PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 target price on shares of PTC in a research report on Tuesday. Oppenheimer boosted their price target on shares of PTC from $225.00 to $240.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of PTC in a research note on Tuesday. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $202.14.

PTC Stock Performance

PTC traded down $3.52 during trading on Friday, hitting $211.29. The stock had a trading volume of 729,832 shares, compared to its average volume of 1,083,874. The firm has a market cap of $25.34 billion, a PE ratio of 49.84, a P/E/G ratio of 2.76 and a beta of 1.17. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.40. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $219.69. The company has a 50 day simple moving average of $180.41 and a 200-day simple moving average of $169.70.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.42. The company had revenue of $643.94 million for the quarter, compared to the consensus estimate of $582.12 million. PTC had a return on equity of 17.40% and a net margin of 20.74%. The firm's revenue was up 24.2% compared to the same quarter last year. During the same period last year, the business posted $0.98 earnings per share. Analysts expect that PTC Inc. will post 4.46 EPS for the current year.

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 17,731 shares in the company, valued at $2,836,960. The trade was a 10.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

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.