Amalgamated Bank Acquires 616 Shares of PTC Inc. (NASDAQ:PTC)

Amalgamated Bank raised its stake in PTC Inc. (NASDAQ:PTC) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,805 shares of the technology company’s stock after acquiring an additional 616 shares during the quarter. Amalgamated Bank’s holdings in PTC were worth $3,844,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of PTC during the 1st quarter valued at $26,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of PTC during the fourth quarter valued at about $30,000. UMB Bank n.a. grew its holdings in shares of PTC by 153.4% during the first quarter. UMB Bank n.a. now owns 294 shares of the technology company’s stock worth $46,000 after purchasing an additional 178 shares during the last quarter. Pinney & Scofield Inc. acquired a new position in shares of PTC in the fourth quarter valued at approximately $47,000. Finally, Kapitalo Investimentos Ltda bought a new position in PTC in the 4th quarter valued at approximately $51,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the transaction, the executive vice president owned 17,731 shares of the company’s stock, valued at $2,836,960. This represents a 10.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.32% of the company’s stock.

PTC Trading Up 1.0%

Shares of PTC stock opened at $175.13 on Friday. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $203.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a 50 day simple moving average of $167.33 and a two-hundred day simple moving average of $168.14. The company has a market cap of $21.01 billion, a P/E ratio of 48.11, a PEG ratio of 2.37 and a beta of 1.17.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.42. PTC had a net margin of 18.77% and a return on equity of 15.35%. The company had revenue of $636.37 million during the quarter, compared to analyst estimates of $608.64 million. During the same quarter in the previous year, the business posted $1.46 EPS. PTC’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts forecast that PTC Inc. will post 4.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

PTC has been the topic of a number of research reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $160.00 target price (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. Robert W. Baird boosted their price objective on shares of PTC from $185.00 to $191.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Stifel Nicolaus decreased their price objective on PTC from $230.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Piper Sandler cut their target price on PTC from $202.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Finally, Wall Street Zen cut PTC from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $188.69.

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.