Seelaus Asset Management LLC Acquires Shares of 3,008 PTC Inc. (NASDAQ:PTC)

Key Points

• Seelaus Asset Management LLC invested $466,000 in PTC Inc., acquiring 3,008 shares as per their recent SEC filing.
• Several hedge funds increased their stakes in PTC, with PNC Financial Services Group Inc. boosting its position by 208.5%.
• PTC reported a quarterly EPS of $1.64, surpassing analysts' expectations of $1.22, and its revenue grew by 24.2% year-over-year.

Seelaus Asset Management LLC purchased a new position in PTC Inc. (NASDAQ:PTC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,008 shares of the technology company's stock, valued at approximately $466,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bartlett & CO. Wealth Management LLC acquired a new position in shares of PTC during the first quarter worth about $26,000. Motco bought a new stake in shares of PTC during the 1st quarter valued at about $29,000. Aster Capital Management DIFC Ltd bought a new position in shares of PTC in the fourth quarter worth $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in PTC during the 1st quarter valued at about $33,000. Finally, UMB Bank n.a. lifted its position in PTC by 153.4% during the 1st 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 last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

PTC Stock Performance

Shares of NASDAQ PTC traded up $0.92 during midday trading on Wednesday, hitting $215.71. 710,531 shares of the company's stock were exchanged, compared to its average volume of 1,647,042. The firm has a market capitalization of $25.84 billion, a PE ratio of 50.88, a price-to-earnings-growth ratio of 2.28 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. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $219.69. The company's 50 day moving average price is $183.10 and its 200 day moving average price is $170.17.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating 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 business had revenue of $643.94 million during the quarter, compared to the consensus estimate of $582.12 million. During the same quarter in the previous year, the business earned $0.98 EPS. The company's quarterly revenue was up 24.2% on a year-over-year basis. As a group, analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction 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 owned 15,743 shares of the company's stock, valued at $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 is available at this link. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wall Street Zen cut shares of PTC from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. BMO Capital Markets lifted their price target on shares of PTC from $187.00 to $231.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Cantor Fitzgerald set a $120.00 price target on shares of PTC and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Stifel Nicolaus raised their target price on PTC from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Mizuho dropped their price objective on shares of PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.