Pinney & Scofield Inc. Makes New Investment in PTC Inc. (NASDAQ:PTC)

Pinney & Scofield Inc. acquired a new position in shares of PTC Inc. (NASDAQ:PTC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 256 shares of the technology company’s stock, valued at approximately $47,000.

Other hedge funds have also modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of PTC in the fourth quarter valued at about $30,000. Allworth Financial LP raised its position in shares of PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after buying an additional 69 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of PTC in the fourth quarter valued at about $51,000. Assetmark Inc. raised its position in shares of PTC by 825.0% in the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock valued at $61,000 after buying an additional 297 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of PTC in the fourth quarter valued at about $77,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Trading Down 0.9%

Shares of PTC stock opened at $168.77 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $20.24 billion, a PE ratio of 52.09, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The company has a 50-day moving average of $156.00 and a two-hundred day moving average of $173.56. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $203.09.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.42. The company had revenue of $636.37 million during the quarter, compared to analyst estimates of $608.64 million. PTC had a net margin of 16.95% and a return on equity of 14.49%. PTC’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 earnings per share. On average, analysts predict that PTC Inc. will post 4.46 EPS for the current year.

Insiders Place Their Bets

In other news, Director Corinna Lathan sold 622 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the transaction, the director now owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. This trade represents a 7.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 1,988 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the transaction, the executive vice president now directly owns 17,731 shares of the company’s stock, valued at approximately $2,836,960. The trade was a 10.08% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PTC has been the subject of a number of recent research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $160.00 target price (down from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Oppenheimer reduced their target price on shares of PTC from $210.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Piper Sandler reduced their target price on shares of PTC from $202.00 to $180.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. BMO Capital Markets upped their price objective on shares of PTC from $183.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Finally, Mizuho dropped their price objective on shares of PTC from $190.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, PTC 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.