Legacy Wealth Asset Management LLC Purchases Shares of 2,043 PTC Inc. (NASDAQ:PTC)

Legacy Wealth Asset Management LLC acquired a new position in PTC Inc. (NASDAQ:PTC) during the third quarter, HoldingsChannel.com reports. The fund acquired 2,043 shares of the technology company’s stock, valued at approximately $369,000.

Other large investors have also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its stake 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 acquiring an additional 62 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of PTC in the 2nd quarter worth $29,000. International Assets Investment Management LLC purchased a new position in PTC during the 2nd quarter worth $30,000. Finally, OFI Invest Asset Management acquired a new position in PTC during the 2nd quarter valued at about $31,000. Institutional investors own 95.14% of the company’s stock.

PTC Stock Performance

NASDAQ:PTC opened at $187.01 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $22.47 billion, a PE ratio of 76.33, a P/E/G ratio of 2.69 and a beta of 1.17. PTC Inc. has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The company has a fifty day moving average of $177.54 and a two-hundred day moving average of $177.67.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. PTC had a net margin of 13.32% and a return on equity of 13.36%. The firm had revenue of $518.64 million during the quarter, compared to the consensus estimate of $533.04 million. As a group, research analysts forecast that PTC Inc. will post 3.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Piper Sandler raised their target price on PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $202.00 price target on shares of PTC in a report on Thursday, August 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Finally, Robert W. Baird boosted their target price on shares of PTC from $216.00 to $226.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.09.

Insider Activity

In related news, Director Robert Schechter sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Staats Aaron C. Von sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value of $170,000.00. Following the transaction, the executive vice president now directly owns 13,902 shares of the company’s stock, valued at approximately $2,363,340. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Schechter sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total transaction of $858,650.00. Following the sale, the director now directly owns 59,616 shares of the company’s stock, valued at approximately $10,237,855.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,000 shares of company stock worth $1,714,010 over the last quarter. 1.17% of the stock is currently owned by corporate insiders.

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.