North Star Asset Management Inc. Purchases 5,394 Shares of PTC Inc. (NASDAQ:PTC)

Key Points

• North Star Asset Management Inc. increased its holdings in PTC Inc. by 3.7% during the first quarter, owning a total of 150,668 shares valued at approximately $23.3 million.
• PTC's most recent earnings report showed an earnings per share (EPS) of $1.79, surpassing estimates by $0.42, along with a 5.5% year-over-year revenue growth.
• PTC stocks have received a consensus rating of "Moderate Buy" from analysts, with an average price target of $188.79.

North Star Asset Management Inc. boosted its position in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,668 shares of the technology company's stock after buying an additional 5,394 shares during the period. PTC makes up approximately 1.1% of North Star Asset Management Inc.'s investment portfolio, making the stock its 27th largest position. North Star Asset Management Inc. owned about 0.13% of PTC worth $23,346,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in shares of PTC by 16.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,632 shares of the technology company's stock worth $668,000 after purchasing an additional 523 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of PTC in the fourth quarter worth approximately $207,000. LPL Financial LLC lifted its stake in shares of PTC by 14.6% in the fourth quarter. LPL Financial LLC now owns 17,914 shares of the technology company's stock worth $3,294,000 after acquiring an additional 2,285 shares during the period. Blair William & Co. IL lifted its stake in PTC by 6.2% in the fourth quarter. Blair William & Co. IL now owns 2,727 shares of the technology company's stock valued at $501,000 after buying an additional 159 shares during the period. Finally, Norges Bank acquired a new position in PTC in the fourth quarter valued at approximately $128,852,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PTC has been the topic of a number of research reports. Piper Sandler upped their target price on PTC from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday. Wall Street Zen downgraded PTC from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Wells Fargo & Company restated an "overweight" rating on shares of PTC in a research note on Tuesday. BMO Capital Markets increased their price target on PTC from $187.00 to $231.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Barclays set a $233.00 price objective on PTC in a report on Thursday. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, PTC presently has a consensus rating of "Moderate Buy" and a consensus price target of $202.14.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the sale, the executive vice president owned 17,731 shares of the company's stock, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company's stock.

PTC Stock Down 1.3%

Shares of PTC traded down $2.70 on Friday, reaching $212.11. The stock had a trading volume of 1,598,374 shares, compared to its average volume of 1,547,054. The firm has a market capitalization of $25.44 billion, a price-to-earnings ratio of 50.03, a price-to-earnings-growth ratio of 2.92 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.99 and a current ratio of 1.17. The company has a 50-day simple moving average of $180.41 and a 200-day simple moving average of $169.70. 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 data on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.42. The business had revenue of $643.94 million during the quarter, compared to analysts' expectations of $582.12 million. PTC had a return on equity of 17.09% and a net margin of 20.74%. The firm's quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 earnings per share. Sell-side analysts predict that PTC Inc. will post 4.46 EPS for the current year.

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.