TD Asset Management Inc Has $84.06 Million Stake in PTC Inc. (NASDAQ:PTC)

Key Points

• TD Asset Management Inc has increased its stake in PTC Inc. by 5.8%, now holding 542,468 shares valued at approximately $84.06 million.
• Several other hedge funds, including Wahed Invest LLC and D.A. Davidson & CO., have also modestly increased their positions in PTC, indicating strong institutional interest in the company.
• Research firms have mixed views on PTC, with ratings ranging from "neutral" to "overweight" and a consensus price target of $194.08.

TD Asset Management Inc grew its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 542,468 shares of the technology company's stock after buying an additional 29,955 shares during the period. TD Asset Management Inc owned 0.45% of PTC worth $84,055,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wahed Invest LLC lifted its holdings in PTC by 2.1% during the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock worth $539,000 after purchasing an additional 61 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in PTC by 1.9% during the 1st quarter. D.A. Davidson & CO. now owns 3,755 shares of the technology company's stock worth $582,000 after purchasing an additional 70 shares during the last quarter. Portside Wealth Group LLC lifted its holdings in PTC by 2.4% during the 1st quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company's stock worth $514,000 after purchasing an additional 78 shares during the last quarter. Strategic Advisors LLC lifted its holdings in PTC by 1.1% during the 1st quarter. Strategic Advisors LLC now owns 7,729 shares of the technology company's stock worth $1,198,000 after purchasing an additional 83 shares during the last quarter. Finally, Dynasty Wealth Management LLC lifted its holdings in PTC by 5.8% during the 1st quarter. Dynasty Wealth Management LLC now owns 1,525 shares of the technology company's stock worth $236,000 after purchasing an additional 83 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PTC. Mizuho dropped their price target on PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. KeyCorp reissued an "overweight" rating and set a $192.00 price target (up from $185.00) on shares of PTC in a report on Monday, July 7th. Piper Sandler lowered their price objective on PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen lowered PTC from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, BMO Capital Markets raised their price objective on PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.08.

Insiders Place Their Bets

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

PTC Trading Up 1.2%

Shares of PTC opened at $204.51 on Monday. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $213.14. The business's fifty day moving average is $177.60 and its 200-day moving average is $168.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $24.53 billion, a price-to-earnings ratio of 56.18, a PEG ratio of 2.78 and a beta of 1.17.

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

PTC 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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