Skandinaviska Enskilda Banken AB publ Has $36.12 Million Holdings in PTC Inc. (NASDAQ:PTC)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in PTC Inc. by 6.9% in the first quarter, acquiring an additional 14,971 shares to reach a total of 233,193 shares worth approximately $36.1 million.
• Several institutional investors, including T. Rowe Price and GAMMA Investing LLC, have significantly raised their holdings in PTC, showcasing strong institutional interest with approximately 95.14% of the stock owned by institutional investors.
• PTC's latest quarterly earnings report showed a 5.5% revenue increase year-over-year, with earnings per share reaching $1.79, surpassing the consensus estimate by $0.42.

Skandinaviska Enskilda Banken AB publ increased its position in PTC Inc. (NASDAQ:PTC - Free Report) by 6.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 233,193 shares of the technology company's stock after purchasing an additional 14,971 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.19% of PTC worth $36,115,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PTC. Wahed Invest LLC lifted its holdings in PTC by 2.1% in the fourth quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock worth $539,000 after acquiring an additional 61 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of PTC by 1.9% during the first quarter. D.A. Davidson & CO. now owns 3,755 shares of the technology company's stock valued at $582,000 after buying an additional 70 shares during the last quarter. Portside Wealth Group LLC raised its holdings in shares of PTC by 2.4% during the first quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company's stock valued at $514,000 after buying an additional 78 shares during the last quarter. Strategic Advisors LLC raised its holdings in shares of PTC by 1.1% during the first quarter. Strategic Advisors LLC now owns 7,729 shares of the technology company's stock valued at $1,198,000 after buying an additional 83 shares during the last quarter. Finally, Dynasty Wealth Management LLC raised its holdings in shares of PTC by 5.8% during the first quarter. Dynasty Wealth Management LLC now owns 1,525 shares of the technology company's stock valued at $236,000 after buying an additional 83 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Trading Down 0.5%

NASDAQ PTC traded down $1.10 on Wednesday, hitting $203.09. 332,614 shares of the stock were exchanged, compared to its average volume of 1,069,131. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $213.14. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $24.36 billion, a price-to-earnings ratio of 55.81, a P/E/G ratio of 2.78 and a beta of 1.17. The company's 50-day moving average price is $178.85 and its two-hundred day moving average price is $169.25.

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

Insider Activity at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the transaction, the executive vice president directly owned 17,731 shares in the company, valued at $2,836,960. The trade was a 10.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PTC. Piper Sandler dropped their target price on PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. KeyCorp reissued an "overweight" rating and set a $192.00 target price (up previously from $185.00) on shares of PTC in a report on Monday, July 7th. Cantor Fitzgerald set a $120.00 target price on PTC and gave the stock an "overweight" rating in a report on Tuesday. Wells Fargo & Company reissued an "overweight" rating on shares of PTC in a report on Tuesday. Finally, BMO Capital Markets lifted their price target on shares of PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, PTC presently has an average rating of "Moderate Buy" and an average target price of $188.79.

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.