Trust Point Inc. Buys New Shares in PTC Inc. (NASDAQ:PTC)

Trust Point Inc. bought a new stake in PTC Inc. (NASDAQ:PTC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,260 shares of the technology company’s stock, valued at approximately $416,000.

A number of other institutional investors have also added to or reduced their stakes in PTC. Covestor Ltd increased its stake in PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after acquiring an additional 80 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of PTC during the third quarter valued at about $66,000. Park Place Capital Corp bought a new position in shares of PTC during the third quarter valued at about $67,000. Blue Trust Inc. grew its stake in shares of PTC by 473.9% during the third quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock valued at $144,000 after buying an additional 654 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of PTC during the third quarter valued at about $152,000. Institutional investors own 95.14% of the company’s stock.

PTC Stock Performance

PTC stock opened at $189.76 on Thursday. The company’s 50-day moving average price is $190.67 and its 200-day moving average price is $183.69. PTC Inc. has a twelve month low of $163.30 and a twelve month high of $203.09. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The company has a market cap of $22.84 billion, a PE ratio of 61.02, a price-to-earnings-growth ratio of 2.62 and a beta of 1.19.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.37% and a return on equity of 14.63%. On average, equities research analysts forecast that PTC Inc. will post 4.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the sale, the executive vice president now owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Alice Christenson sold 1,703 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at $160,356. The trade was a 67.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock worth $3,630,716 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PTC shares. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Piper Sandler lifted their target price on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Stifel Nicolaus lifted their target price on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Robert W. Baird raised their price target on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, PTC presently has an average rating of “Moderate Buy” and an average target price of $210.00.

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.