Aspen Wealth Strategies LLC Invests $393,000 in PTC Inc. (NASDAQ:PTC)

Aspen Wealth Strategies LLC acquired a new position in PTC Inc. (NASDAQ:PTC) during the 3rd quarter, HoldingsChannel reports. The fund acquired 2,178 shares of the technology company’s stock, valued at approximately $393,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Congress Asset Management Co. raised its stake in PTC by 767.8% during the 3rd quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock worth $119,746,000 after buying an additional 586,443 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of PTC by 66.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after purchasing an additional 310,092 shares in the last quarter. Matrix Capital Management Company LP acquired a new stake in PTC in the 1st quarter valued at $56,076,000. Vanguard Group Inc. raised its holdings in shares of PTC by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock worth $2,596,209,000 after acquiring an additional 205,673 shares during the last quarter. Finally, Clearbridge Investments LLC acquired a new position in PTC during the 1st quarter valued at about $28,510,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Stock Down 0.8 %

PTC stock opened at $185.33 on Friday. The stock has a fifty day moving average of $178.38 and a 200-day moving average of $177.77. PTC Inc. has a fifty-two week low of $135.16 and a fifty-two week high of $194.24. The company has a market capitalization of $22.27 billion, a price-to-earnings ratio of 75.65, a PEG ratio of 2.75 and a beta of 1.17. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $518.64 million during the quarter, compared to analyst estimates of $533.04 million. PTC had a net margin of 13.32% and a return on equity of 13.36%. As a group, equities research analysts predict that PTC Inc. will post 3.51 earnings per share for the current year.

Insider Activity

In related news, EVP Staats Aaron C. Von sold 1,000 shares of PTC stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value of $170,000.00. Following the completion of the transaction, the executive vice president now directly owns 13,902 shares in the company, valued at approximately $2,363,340. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the sale, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Staats Aaron C. Von sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the transaction, the executive vice president now owns 13,902 shares of the company’s stock, valued at $2,363,340. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,000 shares of company stock valued at $1,714,010 over the last quarter. Company insiders own 1.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. StockNews.com downgraded shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Piper Sandler increased their price objective on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Robert W. Baird boosted their target price on PTC from $216.00 to $226.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $202.00 price target on shares of PTC in a research report on Thursday, August 1st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Four research 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 an average price target of $201.09.

About PTC

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.