On September 18, 2023, Toroso Investments LLC announced that it has increased its position in PTC Inc. (NASDAQ:PTC) by 73.0% during the first quarter. According to the company’s most recent Form 13F filing with the Securities & Exchange Commission, Toroso Investments LLC now owns 10,229 shares of PTC’s stock after purchasing an additional 4,317 shares during the period. This brings their holdings in PTC to a value of $1,312,000 as of their most recent SEC filing.
PTC, a technology company, recently released its quarterly earnings data on July 26th. The company reported earnings per share (EPS) of $0.64 for the quarter, falling short of the consensus estimate of $0.68 by ($0.04). Despite this earnings miss, PTC had a return on equity of 15.41% and a net margin of 14.90%. The firm also generated revenue of $542.34 million for the quarter, surpassing analysts’ expectations of $530.35 million.
Several analysts have provided their insights on PTC’s stock in recent times. Rosenblatt Securities raised their price objective on PTC from $148.00 to $159.00 in a research report published on July 27th. Similarly, Barclays increased their price objective from $163.00 to $166.00 and gave the stock an “overweight” rating in another research report released on the same day.
Additionally, Robert W Baird raised their target price from $168.00 to $173.00 on July 17th while StockNews.com initiated coverage on PTC on August 17th with a “hold” rating on the stock.
KeyCorp also raised their target price from $160.00 to $177.00 and gave PTC an “overweight” rating in their report published on July 27th. Currently, four analysts have assigned a hold rating and nine analysts have assigned a buy rating to PTC’s stock. According to Bloomberg, the stock has a consensus rating of “Moderate Buy” with an average target price of $160.92.
As we move forward in the year, analysts are predicting that PTC Inc. will post earnings per share of 2.94 for the current year. Investors and market participants will continue to keep a close eye on PTC as the company moves forward and navigates through the evolving technology landscape.
The increase in Toroso Investments LLC’s position emphasizes their confidence in PTC’s potential for growth and performance in the upcoming future. The additional shares acquired by Toroso Investments LLC reflect their positive outlook on the company’s prospects within the technology sector.
Disclaimer: This article is intended for informational purposes only and should not be construed as financial advice or investment recommendations. Please consult with a professional advisor before making any investment decisions.
PTC Inc.
PTC
Strong Buy
Updated on: 19/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
PTC Inc. Sees Surge in Investor Interest Amidst Growing Confidence and Insider Trading Activity
September 18, 2023 – PTC Inc., a technology company known for its innovative solutions, has seen an increased interest from major investors in recent months. Notably, Pictet Asset Management SA raised its stake in the company by 10.7% during the first quarter, now owning over 4.8 million shares worth $627.3 million. State Street Corp and Select Equity Group L.P also increased their positions in PTC during the same period.
Additionally, Invesco Ltd and Geode Capital Management LLC purchased more shares of PTC, demonstrating the growing confidence among institutional investors in the company’s potential. These investments have contributed to a considerable ownership of PTC’s stock by institutional investors and hedge funds, currently standing at 92.23%.
In regards to insider trading, Director Paul A. Lacy recently sold 2,500 shares of PTC’s stock at an average price of $145.02 per share on July 13th. With this transaction, Lacy now holds approximately 21,636 shares valued at $3.14 million. This sale was disclosed through a legal filing with the Securities & Exchange Commission.
Turning our attention to PTC’s stock performance, it opened at $141.45 on Monday, reflecting a slight decline from previous trading sessions. The stock’s recent trends indicate a 50-day moving average of $143.83 and a two-hundred day moving average of $135.02.
With a market capitalization of $16.81 billion and a price-to-earnings ratio of 55.04, PTC holds an influential position within its industry. Its beta value stands at 1.18, indicating moderate volatility compared to the market average.
A notable factor is PTC Inc.’s debt-to-equity ratio of 0.67 which signifies that it maintains a relatively conservative financial profile with favorable leverage levels.
In conclusion, PTC Inc.’s recent increase in interest from large investors, coupled with insider transactions and stock performance dynamics, offers a comprehensive view of the company’s current position. As with any investment analysis, it is important for potential investors to conduct their due diligence and further research before making any financial decisions.
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