US Bancorp DE Lowers Position in PTC Inc. (NASDAQ:PTC)

Key Points

• US Bancorp DE has reduced its stake in PTC Inc. by 19.8%, selling 2,770 shares, while maintaining a total of 11,186 shares valued at approximately $1,733,000.
• Recent analyst reports show a positive sentiment with several upgrades in price targets, including an increase from $200 to $220 by Stifel Nicolaus, reflecting confidence in the company's growth potential.
• PTC posted a strong quarterly earnings performance with $1.64 earnings per share, exceeding estimates and achieving a 24.2% year-over-year revenue growth of $643.94 million.

US Bancorp DE lowered its position in PTC Inc. (NASDAQ:PTC - Free Report) by 19.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,186 shares of the technology company's stock after selling 2,770 shares during the quarter. US Bancorp DE's holdings in PTC were worth $1,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PTC. Bartlett & CO. Wealth Management LLC acquired a new position in shares of PTC in the first quarter valued at approximately $26,000. Motco acquired a new position in shares of PTC in the first quarter valued at approximately $29,000. Aster Capital Management DIFC Ltd acquired a new position in shares of PTC in the fourth quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of PTC in the first quarter valued at approximately $33,000. Finally, UMB Bank n.a. increased its stake in shares of PTC by 153.4% in the first 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. Institutional investors and hedge funds own 95.14% of the company's stock.

Insider Activity

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

PTC Trading Down 0.4%

Shares of PTC stock traded down $0.73 on Friday, reaching $205.42. 756,388 shares of the company's stock were exchanged, compared to its average volume of 1,186,448. The company has a market capitalization of $24.61 billion, a P/E ratio of 48.45, a price-to-earnings-growth ratio of 2.18 and a beta of 1.17. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $219.69. The firm's 50-day moving average is $185.58 and its two-hundred day moving average is $170.61. 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 earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.42. PTC had a return on equity of 17.09% and a net margin of 20.74%. The company had revenue of $643.94 million for the quarter, compared to analysts' expectations of $582.12 million. During the same period last year, the business earned $0.98 EPS. PTC's quarterly revenue was up 24.2% compared to the same quarter last year. Sell-side analysts predict that PTC Inc. will post 4.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PTC shares. Cantor Fitzgerald set a $120.00 price objective on PTC and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Wells Fargo & Company reiterated an "overweight" rating on shares of PTC in a report on Tuesday, July 29th. Oppenheimer upped their target price on PTC from $225.00 to $240.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Royal Bank Of Canada upped their target price on PTC from $224.00 to $235.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, UBS Group reiterated a "buy" rating on shares of PTC in a report on Tuesday, July 29th. 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $202.14.

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.