PTC Inc. (NASDAQ:PTC) Shares Sold by National Bank of Canada FI

Key Points

• National Bank of Canada FI has reduced its stake in PTC Inc. by 11.6%, now owning approximately 0.08% of the company, valued at $14.3 million.
• PTC recently reported a quarterly earnings per share of $1.64, surpassing estimates, with a year-over-year revenue increase of 24.2%.
• Analysts have a positive outlook on PTC, with several providing price targets above $200, indicating a strong potential for growth in the stock.

National Bank of Canada FI lessened its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 11.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,289 shares of the technology company's stock after selling 12,160 shares during the quarter. National Bank of Canada FI owned approximately 0.08% of PTC worth $14,300,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Bartlett & CO. Wealth Management LLC bought a new stake in shares of PTC during the 1st quarter valued at about $26,000. Motco bought a new stake in shares of PTC during the 1st quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of PTC during the 1st quarter valued at about $33,000. UMB Bank n.a. grew its position in shares of PTC by 153.4% during 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 last quarter. Finally, Pinney & Scofield Inc. bought a new stake in shares of PTC during the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 95.14% of the company's stock.

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $216.29, for a total transaction of $429,984.52. Following the completion of the sale, the executive vice president directly owned 15,743 shares of the company's stock, valued at $3,405,053.47. This represents a 11.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PTC has been the topic of several analyst reports. BMO Capital Markets raised their price target on shares of PTC from $187.00 to $231.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Barclays set a $233.00 price objective on PTC in a report on Thursday, July 31st. Oppenheimer increased their price objective on PTC from $225.00 to $240.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Rosenblatt Securities reissued a "buy" rating and issued a $204.00 price objective on shares of PTC in a report on Tuesday, July 29th. Finally, Stifel Nicolaus increased their price objective on PTC from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Five investment 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 company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $202.14.

PTC Stock Down 1.0%

PTC stock opened at $203.29 on Tuesday. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $219.69. The firm has a market cap of $24.35 billion, a PE ratio of 47.95, a P/E/G ratio of 2.18 and a beta of 1.17. The firm has a 50 day simple moving average of $186.31 and a 200 day simple moving average of $170.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.89 and a quick ratio of 0.89.

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

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