MIG Capital LLC Takes $543,000 Position in PTC Inc. $PTC

MIG Capital LLC bought a new stake in PTC Inc. (NASDAQ:PTC) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,505 shares of the technology company’s stock, valued at approximately $543,000.

Several other institutional investors have also modified their holdings of the stock. Fifth Third Bancorp boosted its position in PTC by 16.5% during the first quarter. Fifth Third Bancorp now owns 3,334 shares of the technology company’s stock worth $517,000 after acquiring an additional 473 shares during the last quarter. Mather Group LLC. boosted its position in PTC by 18.3% during the first quarter. Mather Group LLC. now owns 845 shares of the technology company’s stock worth $131,000 after acquiring an additional 131 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in PTC by 20.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,510 shares of the technology company’s stock worth $2,091,000 after acquiring an additional 2,285 shares during the last quarter. M&T Bank Corp boosted its position in PTC by 8.2% during the first quarter. M&T Bank Corp now owns 9,522 shares of the technology company’s stock worth $1,475,000 after acquiring an additional 724 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in PTC by 8.3% during the first quarter. Sequoia Financial Advisors LLC now owns 2,014 shares of the technology company’s stock worth $312,000 after acquiring an additional 154 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analysts Set New Price Targets

PTC has been the topic of a number of recent research reports. KeyCorp restated an “overweight” rating and set a $245.00 price target (up from $192.00) on shares of PTC in a research report on Thursday, July 31st. Robert W. Baird boosted their price target on shares of PTC from $185.00 to $191.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Wells Fargo & Company restated an “overweight” rating on shares of PTC in a research report on Tuesday, July 29th. Cantor Fitzgerald set a $120.00 price target on shares of PTC and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Finally, Barclays set a $233.00 target price on shares of PTC in a report on Thursday, July 31st. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.14.

Insider Activity

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $216.29, for a total value of $429,984.52. Following the sale, the executive vice president directly owned 15,743 shares of the company’s stock, valued at approximately $3,405,053.47. The trade was a 11.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

PTC Price Performance

PTC stock opened at $208.31 on Tuesday. The company’s 50 day simple moving average is $190.12 and its 200-day simple moving average is $171.15. The company has a market capitalization of $24.95 billion, a price-to-earnings ratio of 49.13, a price-to-earnings-growth ratio of 2.19 and a beta of 1.17. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $219.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.42. The business had revenue of $643.94 million for the quarter, compared to the consensus estimate of $582.12 million. PTC had a net margin of 20.74% and a return on equity of 17.09%. The business’s revenue was up 24.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. As a group, equities research analysts expect that PTC Inc. will post 4.46 earnings per share for the current year.

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.