Y Intercept Hong Kong Ltd Purchases 3,407 Shares of PTC Inc. (NASDAQ:PTC)

Key Points

• Y Intercept Hong Kong Ltd significantly increased its stake in PTC Inc. by 275.6% during the first quarter to hold 4,643 shares valued at approximately $719,000.
• Multiple institutional investors, including T. Rowe Price and Pictet Asset Management, have increased their holdings in PTC, indicating strong institutional interest with hedge funds owning 95.14% of the company's stock.
• Analysts have mixed ratings on PTC, with a consensus rating of "Moderate Buy" and a price target of $194.08, although some brokerage firms have lowered their price targets recently.

Y Intercept Hong Kong Ltd lifted its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 275.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 4,643 shares of the technology company's stock after acquiring an additional 3,407 shares during the period. Y Intercept Hong Kong Ltd's holdings in PTC were worth $719,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in PTC during the fourth quarter valued at about $30,000. Bartlett & CO. Wealth Management LLC bought a new stake in PTC in the 1st quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in PTC in the first quarter worth approximately $33,000. Pinney & Scofield Inc. purchased a new stake in PTC in the fourth quarter worth approximately $47,000. Finally, Kapitalo Investimentos Ltda bought a new position in PTC during the fourth quarter valued at approximately $51,000. 95.14% of the stock is owned by institutional investors.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the sale, the executive vice president owned 17,731 shares in the company, valued at approximately $2,836,960. This represents a 10.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by company insiders.

PTC Stock Up 1.2%

PTC stock traded up $2.45 during trading hours on Friday, hitting $204.51. 550,807 shares of the stock traded hands, compared to its average volume of 1,444,275. PTC Inc. has a one year low of $133.38 and a one year high of $213.14. The firm's 50-day moving average price is $177.60 and its two-hundred day moving average price is $168.85. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.40. The company has a market cap of $24.53 billion, a PE ratio of 56.18, a PEG ratio of 2.78 and a beta of 1.17.

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

Analyst Upgrades and Downgrades

PTC has been the subject of a number of research reports. Oppenheimer upped their price objective on shares of PTC from $210.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday. Rosenblatt Securities reaffirmed a "buy" rating and set a $204.00 price objective on shares of PTC in a research note on Thursday, May 1st. Piper Sandler lowered their target price on PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus dropped their target price on PTC from $230.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $192.00 price target (up from $185.00) on shares of PTC in a research note on Monday, July 7th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus 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.