MGO One Seven LLC Acquires New Shares in PTC Inc. $PTC

MGO One Seven LLC bought a new stake in PTC Inc. (NASDAQ:PTC) in the 3rd quarter, Holdings Channel reports. The firm bought 2,605 shares of the technology company’s stock, valued at approximately $365,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in PTC by 89.3% in the first quarter. Renaissance Technologies LLC now owns 389,100 shares of the technology company’s stock valued at $55,443,000 after acquiring an additional 183,600 shares during the last quarter. SCS Capital Management LLC bought a new position in shares of PTC in the 2nd quarter valued at about $37,912,000. Amundi increased its stake in shares of PTC by 151.9% during the 1st quarter. Amundi now owns 1,725,555 shares of the technology company’s stock worth $245,885,000 after purchasing an additional 1,040,656 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of PTC during the 2nd quarter worth about $57,186,000. Finally, Hsbc Holdings PLC raised its holdings in shares of PTC by 65.0% in the 2nd quarter. Hsbc Holdings PLC now owns 587,782 shares of the technology company’s stock valued at $66,753,000 after purchasing an additional 231,563 shares during the period. 95.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Corinna Lathan sold 1,750 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $195.75, for a total value of $342,562.50. Following the transaction, the director owned 6,679 shares in the company, valued at approximately $1,307,414.25. This represents a 20.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Piper Sandler cut their target price on shares of PTC from $175.00 to $157.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. BMO Capital Markets downgraded PTC from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $164.00 to $205.00 in a research report on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft downgraded PTC to a “hold” rating and set a $205.00 price target on the stock. in a research report on Monday, October 5th. Barclays lowered PTC from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $155.00 to $205.00 in a research note on Monday, October 5th. Finally, Royal Bank Of Canada cut PTC from a “buy” rating to a “sector perform” rating and raised their price objective for the company from $195.00 to $306.00 in a research report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, PTC currently has an average rating of “Hold” and a consensus price target of $200.06.

PTC Stock Performance

PTC stock opened at $195.07 on Monday. PTC Inc. has a one year low of $108.50 and a one year high of $196.05. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 2.56 and a beta of 0.92. The company has a fifty day moving average price of $166.98 and a two-hundred day moving average price of $148.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.63 and a quick ratio of 1.03.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, November 4th. The technology company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.06. The company had revenue of $673.25 million for the quarter, compared to analyst estimates of $663.56 million. PTC had a net margin of 37.80% and a return on equity of 20.03%. The company’s revenue was down 24.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.41 earnings per share. Equities analysts anticipate that PTC Inc. will post 7.12 EPS for the current year.

PTC Company Profile

PTC Inc develops software that helps manufacturers design, build, operate and service products. Its offerings support computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management and industrial connectivity, helping companies manage product data and coordinate work across engineering and manufacturing.

PTC’s products include Creo for 3D CAD, Windchill for PLM, Codebeamer for application lifecycle management, and ThingWorx for industrial connectivity and application development.