Pacer Advisors Inc. Buys 15,498 Shares of PTC Inc. (NASDAQ:PTC)

Key Points

• Pacer Advisors Inc. increased its stake in PTC Inc. by 46.7% during the first quarter, now holding 48,701 shares valued at approximately $7.5 million.
• PTC reported earnings of $1.79 per share for the last quarter, exceeding analyst expectations of $1.37, alongside a revenue of $636.37 million.
• Hedge funds and institutional investors control a significant 95.14% of PTC's stock, indicating strong institutional interest in the company.

Pacer Advisors Inc. lifted its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 46.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,701 shares of the technology company's stock after acquiring an additional 15,498 shares during the quarter. Pacer Advisors Inc.'s holdings in PTC were worth $7,546,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the business. Bartlett & CO. Wealth Management LLC bought a new stake in shares of PTC in the 1st quarter worth approximately $26,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of PTC in the 4th quarter valued at $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of PTC in the 1st quarter valued at $33,000. UMB Bank n.a. increased its stake in shares of PTC by 153.4% in the 1st quarter. UMB Bank n.a. now owns 294 shares of the technology company's stock valued at $46,000 after buying an additional 178 shares during the period. Finally, Pinney & Scofield Inc. acquired a new stake in shares of PTC during the fourth quarter worth $47,000. 95.14% of the stock is owned by institutional investors.

PTC Trading Up 7.8%

Shares of PTC stock traded up $15.86 during mid-day trading on Thursday, hitting $218.37. The company's stock had a trading volume of 1,099,588 shares, compared to its average volume of 1,075,143. The company's fifty day simple moving average is $179.52 and its 200-day simple moving average is $169.48. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $219.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $26.19 billion, a PE ratio of 60.00, a P/E/G ratio of 2.78 and a beta of 1.17.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.42. PTC had a return on equity of 15.35% and a net margin of 18.77%. The firm had revenue of $643.94 million during the quarter, compared to analyst estimates of $582.12 million. During the same period last year, the company posted $0.98 EPS. The business's quarterly revenue was up 24.2% on a year-over-year basis. As a group, equities research analysts expect that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PTC. Stifel Nicolaus decreased their price objective on PTC from $230.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. restated a "neutral" rating and issued a $160.00 price target (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. Piper Sandler upped their price objective on PTC from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday. Rosenblatt Securities reissued a "buy" rating and set a $204.00 price target on shares of PTC in a research report on Tuesday. Finally, Wall Street Zen downgraded PTC from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, PTC has a consensus rating of "Moderate Buy" and a consensus price target of $200.36.

Insider Activity at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction 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 sale, the executive vice president directly owned 17,731 shares of the company's stock, valued at $2,836,960. This trade represents a 10.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by corporate 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.