Point72 Hong Kong Ltd Invests $616,000 in PTC Inc. (NASDAQ:PTC)

Point72 Hong Kong Ltd purchased a new stake in PTC Inc. (NASDAQ:PTC) during the 4th quarter, HoldingsChannel reports. The fund purchased 3,349 shares of the technology company’s stock, valued at approximately $616,000.

A number of other institutional investors also recently modified their holdings of PTC. Bank Pictet & Cie Europe AG raised its holdings in PTC by 1.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock valued at $722,000 after acquiring an additional 55 shares during the period. Wahed Invest LLC raised its stake in shares of PTC by 2.1% during the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company’s stock valued at $539,000 after purchasing an additional 61 shares during the period. Allworth Financial LP raised its stake in shares of PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares during the period. Otter Creek Advisors LLC lifted its holdings in PTC by 0.4% during the 4th quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company’s stock worth $3,527,000 after purchasing an additional 80 shares in the last quarter. Finally, Kirtland Hills Capital Management LLC boosted its stake in PTC by 3.2% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 2,948 shares of the technology company’s stock worth $542,000 after purchasing an additional 91 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Trading Up 0.6%

Shares of PTC stock opened at $172.91 on Friday. The business has a 50-day moving average price of $154.62 and a two-hundred day moving average price of $174.11. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $203.09. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. The firm has a market cap of $20.74 billion, a P/E ratio of 53.37, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.42. PTC had a return on equity of 14.49% and a net margin of 16.95%. The company had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. During the same quarter in the previous year, the company posted $1.46 EPS. PTC’s quarterly revenue 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.

Insider Transactions at PTC

In other news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the transaction, the director now owns 7,604 shares in the company, valued at approximately $1,182,650.12. The trade was a 7.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,988 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the sale, the executive vice president now directly owns 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 disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays decreased their price target on PTC from $215.00 to $175.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. Citigroup reduced their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $160.00 price target (down previously from $210.00) on shares of PTC in a report on Wednesday, April 9th. Finally, BMO Capital Markets lifted their price objective on PTC from $183.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.15.

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.