PTC Inc. (NASDAQ:PTC) Shares Sold by US Bancorp DE

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 reduced its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 19.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC purchased a new stake in PTC in the first quarter worth about $26,000. Motco purchased a new stake in PTC in the first quarter worth about $29,000. Aster Capital Management DIFC Ltd purchased a new stake in PTC in the fourth quarter worth about $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in PTC in the first quarter worth about $33,000. Finally, UMB Bank n.a. lifted its stake in PTC by 153.4% in the first quarter. UMB Bank n.a. now owns 294 shares of the technology company's stock worth $46,000 after acquiring an additional 178 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of PTC 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.32% of the company's stock.

PTC Stock Performance

Shares of PTC stock traded up $0.99 during midday trading on Tuesday, hitting $204.28. The company had a trading volume of 175,275 shares, compared to its average volume of 1,077,131. The stock has a market cap of $24.47 billion, a price-to-earnings ratio of 48.18, a PEG ratio of 2.18 and a beta of 1.17. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $186.31 and a 200 day simple moving average of $170.58. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $219.69.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.22 by $0.42. The firm had revenue of $643.94 million during 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%. PTC's revenue was up 24.2% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. As a group, analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

PTC has been the subject of a number of research reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of PTC in a research note on Tuesday, July 29th. BMO Capital Markets lifted their price target on PTC from $187.00 to $231.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 price target on shares of PTC in a report on Tuesday, July 29th. Royal Bank Of Canada lifted their price target on PTC from $224.00 to $235.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Oppenheimer increased their price target on shares of PTC from $225.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $202.14.

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.