Verdence Capital Advisors LLC Acquires Shares of 2,496 PTC Inc. (NASDAQ:PTC)

Verdence Capital Advisors LLC bought a new position in PTC Inc. (NASDAQ:PTC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,496 shares of the technology company's stock, valued at approximately $387,000.

Several other large investors also recently added to or reduced their stakes in the business. Wahed Invest LLC raised its stake in shares of PTC by 2.1% in the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock valued at $539,000 after buying an additional 61 shares in the last quarter. D.A. Davidson & CO. increased its position in PTC by 1.9% in the 1st quarter. D.A. Davidson & CO. now owns 3,755 shares of the technology company's stock valued at $582,000 after acquiring an additional 70 shares in the last quarter. Portside Wealth Group LLC increased its position in PTC by 2.4% in the 1st quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company's stock valued at $514,000 after acquiring an additional 78 shares in the last quarter. Strategic Advisors LLC increased its position in PTC by 1.1% in the 1st quarter. Strategic Advisors LLC now owns 7,729 shares of the technology company's stock valued at $1,198,000 after acquiring an additional 83 shares in the last quarter. Finally, Steph & Co. increased its position in PTC by 6.7% in the 1st quarter. Steph & Co. now owns 1,347 shares of the technology company's stock valued at $209,000 after acquiring an additional 84 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

PTC Price Performance

Shares of PTC stock opened at $199.61 on Friday. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $213.14. The stock has a market capitalization of $23.94 billion, a price-to-earnings ratio of 54.84, a P/E/G ratio of 2.72 and a beta of 1.17. The stock has a fifty day simple moving average of $174.56 and a two-hundred day simple moving average of $168.34. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.40.

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

Insider Activity at PTC

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Mizuho cut their price target 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. Barclays increased their price objective on shares of PTC from $175.00 to $203.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Robert W. Baird upped their price target on shares of PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Wall Street Zen downgraded shares of PTC from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Stifel Nicolaus reduced their price objective on shares of PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $192.92.

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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