PTC Inc. (NASDAQ:PTC) Shares Acquired by First National Advisers LLC

Key Points

• First National Advisers LLC increased its stake in PTC Inc. by 65.8%, owning 13,956 shares valued at approximately $2.16 million after acquiring 5,541 additional shares.
• PTC reported $1.79 earnings per share for the last quarter, surpassing analysts' expectations of $1.37, with a 5.5% year-over-year revenue increase to $636.37 million.
• Institutional investors own 95.14% of PTC's stock, indicating significant institutional interest in the technology company.

First National Advisers LLC grew its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 65.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,956 shares of the technology company's stock after purchasing an additional 5,541 shares during the period. First National Advisers LLC's holdings in PTC were worth $2,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in PTC. Fifth Third Bancorp lifted its holdings in shares of PTC by 16.5% in the 1st quarter. Fifth Third Bancorp now owns 3,334 shares of the technology company's stock worth $517,000 after acquiring an additional 473 shares during the last quarter. Mather Group LLC. grew its position in PTC by 18.3% in the 1st quarter. Mather Group LLC. now owns 845 shares of the technology company's stock valued at $131,000 after acquiring an additional 131 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in PTC by 20.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,510 shares of the technology company's stock worth $2,091,000 after purchasing an additional 2,285 shares during the period. M&T Bank Corp boosted its stake in shares of 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 purchasing an additional 724 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of PTC in the fourth quarter valued at approximately $524,000. Institutional investors and hedge funds own 95.14% of the company's stock.

PTC Price Performance

Shares of NASDAQ PTC opened at $204.51 on Friday. The stock's 50-day simple moving average is $177.60 and its 200-day simple moving average is $168.96. The firm has a market capitalization of $24.53 billion, a PE ratio of 56.18, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $213.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.42. PTC had a net margin of 18.77% and a return on equity of 15.35%. The company had revenue of $636.37 million for the quarter, compared to analysts' expectations of $608.64 million. During the same quarter last year, the company earned $1.46 earnings per share. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts forecast that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PTC has been the topic of a number of research reports. Stifel Nicolaus reduced their target price on shares of PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Oppenheimer increased their price objective on PTC from $210.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday. BMO Capital Markets upped their price target on PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Mizuho reduced their price target on PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Wall Street Zen cut PTC from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $194.08.

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.

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