NEOS Investment Management LLC Boosts Stake in PTC Inc. (NASDAQ:PTC)

NEOS Investment Management LLC lifted its holdings in shares of PTC Inc. (NASDAQ:PTC) by 28.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,646 shares of the technology company’s stock after acquiring an additional 1,241 shares during the quarter. NEOS Investment Management LLC’s holdings in PTC were worth $1,038,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bank Pictet & Cie Europe AG increased its holdings in PTC by 1.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock worth $722,000 after purchasing an additional 55 shares during the last quarter. Wedmont Private Capital increased its stake in shares of PTC by 1.6% in the fourth quarter. Wedmont Private Capital now owns 4,026 shares of the technology company’s stock worth $734,000 after buying an additional 64 shares during the last quarter. Allworth Financial LP raised its holdings in PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after acquiring an additional 69 shares in the last quarter. Otter Creek Advisors LLC boosted its stake in PTC by 0.4% during the 4th quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company’s stock valued at $3,527,000 after acquiring an additional 80 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC grew its holdings in PTC by 3.2% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 2,948 shares of the technology company’s stock worth $542,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Price Performance

Shares of NASDAQ:PTC opened at $154.80 on Friday. The firm’s 50 day moving average is $169.84 and its two-hundred day moving average is $180.97. The firm has a market capitalization of $18.63 billion, a P/E ratio of 47.78, a PEG ratio of 2.27 and a beta of 1.22. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC Inc. has a 52 week low of $151.80 and a 52 week high of $203.09.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $204.00 price target on shares of PTC in a research report on Tuesday, February 4th. Stifel Nicolaus increased their target price on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. KeyCorp boosted their price target on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Citigroup reduced their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

Insider Buying and Selling

In related news, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction of $96,739.66. Following the sale, the director now owns 7,604 shares of the company’s stock, valued at $1,182,650.12. The trade was a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

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.