SteelPeak Wealth LLC Grows Holdings in PTC Inc. (NASDAQ:PTC)

SteelPeak Wealth LLC raised its position in PTC Inc. (NASDAQ:PTC - Free Report) by 62.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,070 shares of the technology company's stock after purchasing an additional 2,722 shares during the period. SteelPeak Wealth LLC's holdings in PTC were worth $1,095,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its holdings in shares of PTC by 11.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company's stock worth $3,174,432,000 after acquiring an additional 1,773,653 shares during the period. Norges Bank acquired a new stake in PTC during the 4th quarter worth approximately $128,852,000. GAMMA Investing LLC increased its position in PTC by 13,184.0% during the 1st quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company's stock worth $53,517,000 after purchasing an additional 342,784 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in PTC during the 4th quarter worth approximately $59,506,000. Finally, Janus Henderson Group PLC increased its position in PTC by 1,753.2% during the 4th quarter. Janus Henderson Group PLC now owns 298,627 shares of the technology company's stock worth $54,909,000 after purchasing an additional 282,513 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Price Performance

NASDAQ:PTC opened at $193.51 on Friday. The business's 50-day moving average price is $171.26 and its 200 day moving average price is $168.11. The firm has a market cap of $23.21 billion, a P/E ratio of 53.16, a PEG ratio of 2.68 and a beta of 1.17. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $213.14. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.40.

PTC (NASDAQ:PTC - Get Free Report) last released its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.42. The firm 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%. PTC's revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.46 earnings per share. As a group, sell-side analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PTC shares. Stifel Nicolaus dropped their target price on shares of PTC from $230.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Robert W. Baird raised their price target on shares of PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. restated a "neutral" rating and set a $160.00 price objective (down from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Wall Street Zen cut PTC from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Oppenheimer restated a "cautious" rating on shares of PTC in a research note on Thursday, June 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, PTC currently has an average rating of "Hold" and a consensus target price of $189.23.

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.

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