Legacy Wealth Asset Management LLC Takes $369,000 Position in PTC Inc. (NASDAQ:PTC)

Legacy Wealth Asset Management LLC bought a new position in shares of PTC Inc. (NASDAQ:PTC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,043 shares of the technology company’s stock, valued at approximately $369,000.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its holdings in PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after acquiring an additional 62 shares during the last quarter. Blue Trust Inc. lifted its position in shares of PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. Rothschild Investment LLC bought a new position in PTC during the second quarter valued at approximately $29,000. International Assets Investment Management LLC purchased a new position in shares of PTC in the second quarter valued at $30,000. Finally, OFI Invest Asset Management bought a new stake in PTC in the second quarter worth $31,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling

In other PTC news, Director Robert Schechter sold 5,000 shares of PTC stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total transaction of $858,650.00. Following the completion of the sale, the director now directly owns 59,616 shares of the company’s stock, valued at $10,237,855.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Robert Schechter sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total value of $858,650.00. Following the completion of the sale, the director now owns 59,616 shares in the company, valued at approximately $10,237,855.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the sale, the executive vice president now directly owns 13,902 shares of the company’s stock, valued at $2,363,340. The trade was a 0.00 % decrease in their position. 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. 1.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PTC has been the subject of a number of recent research reports. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Robert W. Baird boosted their price objective 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 issued a $202.00 price objective on shares of PTC in a research note on Thursday, August 1st. Piper Sandler boosted their target price on PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $195.00 price target on shares of PTC in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.09.

PTC Stock Up 1.8 %

Shares of PTC opened at $187.01 on Friday. The firm has a fifty day moving average price of $177.54 and a 200-day moving average price of $177.67. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $22.47 billion, a P/E ratio of 76.33, a P/E/G ratio of 2.69 and a beta of 1.17. PTC Inc. has a 12-month low of $134.61 and a 12-month high of $194.24.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The company 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%. Equities research analysts expect that PTC Inc. will post 3.51 earnings per share for the current year.

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.