Contravisory Investment Management Inc. Acquires 72 Shares of PTC Inc. (NASDAQ:PTC)

Contravisory Investment Management Inc. raised its holdings in shares of PTC Inc. (NASDAQ:PTC) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,728 shares of the technology company’s stock after purchasing an additional 72 shares during the quarter. Contravisory Investment Management Inc.’s holdings in PTC were worth $673,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pictet Asset Management SA grew its stake in shares of PTC by 10.7% during the 1st quarter. Pictet Asset Management SA now owns 4,892,360 shares of the technology company’s stock worth $627,347,000 after acquiring an additional 471,437 shares during the period. State Street Corp boosted its position in shares of PTC by 3.6% in the first quarter. State Street Corp now owns 4,151,605 shares of the technology company’s stock valued at $532,360,000 after acquiring an additional 142,852 shares during the period. Select Equity Group L.P. boosted its holdings in PTC by 5.7% in the 4th quarter. Select Equity Group L.P. now owns 3,504,626 shares of the technology company’s stock valued at $420,695,000 after purchasing an additional 190,348 shares during the period. Invesco Ltd. lifted its holdings in shares of PTC by 1.6% during the 1st quarter. Invesco Ltd. now owns 2,576,733 shares of the technology company’s stock worth $277,566,000 after acquiring an additional 41,474 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in PTC by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 2,335,464 shares of the technology company’s stock worth $298,852,000 after purchasing an additional 68,055 shares during the period. Institutional investors own 92.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PTC. Mizuho increased their price objective on shares of PTC from $170.00 to $180.00 in a report on Friday, July 28th. Rosenblatt Securities raised their price target on PTC from $148.00 to $159.00 in a research note on Thursday, July 27th. Piper Sandler reiterated a “neutral” rating and issued a $150.00 target price on shares of PTC in a research note on Thursday, July 27th. Robert W. Baird lifted their price objective on shares of PTC from $168.00 to $173.00 in a report on Monday, July 17th. Finally, BMO Capital Markets initiated coverage on PTC in a report on Wednesday, May 24th. They set an “outperform” rating and a $166.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $160.92.

PTC Trading Up 1.5 %

NASDAQ PTC traded up $2.12 during trading hours on Monday, reaching $143.57. The company’s stock had a trading volume of 213,233 shares, compared to its average volume of 759,771. The firm has a fifty day simple moving average of $143.83 and a 200-day simple moving average of $135.02. The stock has a market cap of $17.06 billion, a P/E ratio of 55.63, a P/E/G ratio of 3.74 and a beta of 1.18. PTC Inc. has a 52 week low of $101.82 and a 52 week high of $152.09. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.68 and a quick ratio of 0.68.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.04). The business had revenue of $542.34 million for the quarter, compared to analyst estimates of $530.35 million. PTC had a return on equity of 15.41% and a net margin of 14.90%. Equities analysts forecast that PTC Inc. will post 2.94 earnings per share for the current fiscal year.

Insider Transactions at PTC

In other PTC news, Director Paul A. Lacy sold 2,500 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $150.48, for a total value of $376,200.00. Following the completion of the transaction, the director now owns 19,136 shares in the company, valued at approximately $2,879,585.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.26% of the stock is owned by corporate insiders.

PTC Company Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers end-to-end capabilities to enable digital transformation; and Vuforia, which enables the creation of AR.