Nuveen LLC Makes New $241.79 Million Investment in PTC Inc. (NASDAQ:PTC)

Key Points

• Nuveen LLC acquired approximately 1.56 million shares of PTC Inc., valued at around $241.79 million, representing about 1.30% ownership of the company at the end of the reporting period.
• PTC's most recent earnings report showed a 24.2% year-over-year revenue increase, with earnings per share (EPS) of $1.64 beating expectations of $1.22.
• Analysts have mostly rated PTC as a "Moderate Buy," with a consensus price target of $202.14, and recent target prices ranging from $120.00 to $240.00.

Nuveen LLC acquired a new position in shares of PTC Inc. (NASDAQ:PTC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,560,433 shares of the technology company's stock, valued at approximately $241,789,000. Nuveen LLC owned approximately 1.30% of PTC as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp raised its position in PTC by 16.5% in the first quarter. Fifth Third Bancorp now owns 3,334 shares of the technology company's stock valued at $517,000 after purchasing an additional 473 shares during the period. Mather Group LLC. raised its stake in PTC by 18.3% in the first quarter. Mather Group LLC. now owns 845 shares of the technology company's stock valued at $131,000 after buying an additional 131 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in PTC by 20.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,510 shares of the technology company's stock valued at $2,091,000 after purchasing an additional 2,285 shares in the last quarter. M&T Bank Corp lifted its position in PTC by 8.2% in the first quarter. M&T Bank Corp now owns 9,522 shares of the technology company's stock valued at $1,475,000 after acquiring an additional 724 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of PTC by 8.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,014 shares of the technology company's stock valued at $312,000 after purchasing an additional 154 shares during the period. Hedge funds and other institutional investors own 95.14% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PTC. Robert W. Baird increased their target price 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. Stifel Nicolaus boosted their price objective on shares of PTC from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Rosenblatt Securities reiterated a "buy" rating and set a $204.00 price objective on shares of PTC in a research report on Tuesday, July 29th. Wall Street Zen upgraded shares of PTC from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Cantor Fitzgerald set a $120.00 target price on PTC and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $202.14.

PTC Stock Down 0.2%

NASDAQ PTC traded down $0.36 on Thursday, hitting $208.01. 609,513 shares of the stock traded hands, compared to its average volume of 1,074,026. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $219.69. The stock has a 50-day moving average of $187.84 and a 200 day moving average of $171.08. The company has a market capitalization of $24.92 billion, a P/E ratio of 49.06, a price-to-earnings-growth ratio of 2.17 and a beta of 1.17.

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

Insider Buying and Selling

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $216.29, for a total value of $429,984.52. Following the sale, the executive vice president owned 15,743 shares of the company's stock, valued at approximately $3,405,053.47. The trade was a 11.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.