Citigroup Inc. Boosts Stock Holdings in PTC Inc. (NASDAQ:PTC)

Key Points

• Citigroup Inc. increased its stake in PTC Inc. by 139.1% during the first quarter, now owning 215,186 shares valued at approximately $33.34 million.
• PTC reported a 24.2% year-over-year increase in quarterly revenue, reaching $643.94 million, with an EPS of $1.64 surpassing analysts' expectations.
• Wall Street analysts have a consensus rating of "Moderate Buy" for PTC, with an average price target of $202.14 after several firms revised their price objectives upward.

Citigroup Inc. lifted its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 139.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 215,186 shares of the technology company's stock after buying an additional 125,196 shares during the quarter. Citigroup Inc. owned about 0.18% of PTC worth $33,343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its holdings in shares of PTC by 11.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company's stock worth $3,174,432,000 after purchasing an additional 1,773,653 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in PTC by 41.6% in the first quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock worth $445,687,000 after purchasing an additional 844,418 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of PTC by 13,184.0% during the 1st quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company's stock valued at $53,517,000 after purchasing an additional 342,784 shares during the period. Point72 Asset Management L.P. bought a new position in PTC in the 4th quarter worth about $59,506,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of PTC by 1,753.2% in the 4th quarter. Janus Henderson Group PLC now owns 298,627 shares of the technology company's stock worth $54,909,000 after purchasing an additional 282,513 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on PTC from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Oppenheimer boosted their price objective on PTC from $225.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded PTC from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. KeyCorp reissued an "overweight" rating and set a $245.00 price objective (up from $192.00) on shares of PTC in a research note on Thursday, July 31st. Finally, Cantor Fitzgerald set a $120.00 price objective on PTC and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $202.14.

PTC Price Performance

Shares of PTC stock traded down $1.57 during midday trading on Friday, reaching $206.45. 883,890 shares of the company were exchanged, compared to its average volume of 1,072,678. The company's 50 day moving average price is $188.64 and its two-hundred day moving average price is $171.21. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $219.69. The company has a market cap of $24.73 billion, a P/E ratio of 48.70, a PEG ratio of 2.21 and a beta of 1.17. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.42. The firm had revenue of $643.94 million for 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 revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. On average, sell-side analysts expect that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $216.29, for a total transaction of $429,984.52. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by company insiders.

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.