Meeder Advisory Services Inc. Makes New $210,000 Investment in PTC Inc. (NASDAQ:PTC)

Meeder Advisory Services Inc. bought a new stake in shares of PTC Inc. (NASDAQ:PTC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,155 shares of the technology company’s stock, valued at approximately $210,000.

Other large 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 second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after buying an additional 62 shares in the last quarter. Blue Trust Inc. raised its holdings in PTC by 762.5% in the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after purchasing an additional 122 shares during the period. Rothschild Investment LLC purchased a new position in PTC during the second quarter worth approximately $29,000. International Assets Investment Management LLC acquired a new stake in PTC in the second quarter valued at approximately $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of PTC in the second quarter valued at approximately $31,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PTC

In related news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the completion of the sale, the director now directly owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the sale, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Schechter sold 5,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 59,616 shares in the company, valued at approximately $10,237,855.68. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $2,431,330 over the last quarter. 1.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PTC has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $202.00 target price on shares of PTC in a research report on Thursday, August 1st. Mizuho reaffirmed a “neutral” rating and set a $190.00 price objective (down from $200.00) on shares of PTC in a report on Tuesday, June 4th. Rosenblatt Securities boosted their target price on shares of PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Piper Sandler boosted their price objective on PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.18.

PTC Trading Up 0.9 %

Shares of PTC stock opened at $173.76 on Tuesday. PTC Inc. has a twelve month low of $134.61 and a twelve month high of $194.24. The stock has a market cap of $20.88 billion, a price-to-earnings ratio of 72.70, a PEG ratio of 3.19 and a beta of 1.18. The company’s 50-day moving average price is $174.47 and its 200-day moving average price is $178.76. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. PTC had a net margin of 13.32% and a return on equity of 13.36%. The business had revenue of $518.64 million during the quarter, compared to the consensus estimate of $533.04 million. As a group, equities analysts predict that PTC Inc. will post 3.52 earnings per share for the current year.

PTC 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.