2,917 Shares of PTC Inc. $PTC Bought by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC bought a new stake in PTC Inc. (NASDAQ:PTC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,917 shares of the technology company’s stock, valued at approximately $409,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Heritage Family Offices LLP acquired a new stake in shares of PTC during the 3rd quarter valued at approximately $133,000. Calamos Advisors LLC grew its holdings in shares of PTC by 2.1% in the 3rd quarter. Calamos Advisors LLC now owns 62,555 shares of the technology company’s stock worth $8,776,000 after acquiring an additional 1,265 shares during the period. Kestra Advisory Services LLC grew its holdings in shares of PTC by 2.2% in the 3rd quarter. Kestra Advisory Services LLC now owns 3,103 shares of the technology company’s stock worth $435,000 after acquiring an additional 66 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of PTC by 41.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,657 shares of the technology company’s stock worth $513,000 after acquiring an additional 1,073 shares during the period. Finally, Covestor Ltd increased its stake in PTC by 77.4% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology company’s stock valued at $125,000 after purchasing an additional 387 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PTC

In related news, Director Corinna Lathan sold 1,750 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $195.75, for a total value of $342,562.50. Following the sale, the director owned 6,679 shares of the company’s stock, valued at approximately $1,307,414.25. This represents a 20.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PTC. Stifel Nicolaus set a $205.00 price objective on PTC in a report on Monday, October 5th. Robert W. Baird downgraded PTC from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Deutsche Bank Aktiengesellschaft lowered PTC to a “hold” rating and set a $205.00 target price on the stock. in a report on Monday, October 5th. KeyCorp cut PTC from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 5th. Finally, Weiss Ratings raised PTC from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $200.06.

PTC Stock Up 0.2%

Shares of NASDAQ PTC opened at $195.07 on Friday. PTC Inc. has a 12-month low of $108.50 and a 12-month high of $196.05. The company has a market capitalization of $21.17 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 2.56 and a beta of 0.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.63 and a quick ratio of 1.03. The firm’s 50-day moving average is $166.98 and its two-hundred day moving average is $148.11.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, November 4th. The technology company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.97 by $0.06. PTC had a net margin of 37.80% and a return on equity of 20.03%. The business had revenue of $673.25 million for the quarter, compared to analyst estimates of $663.56 million. During the same period in the prior year, the business earned $3.41 earnings per share. The company’s quarterly revenue was down 24.7% on a year-over-year basis. Equities analysts anticipate that PTC Inc. will post 7.12 EPS for the current fiscal year.

PTC Company Profile

PTC Inc develops software that helps manufacturers design, build, operate and service products. Its offerings support computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management and industrial connectivity, helping companies manage product data and coordinate work across engineering and manufacturing.

PTC’s products include Creo for 3D CAD, Windchill for PLM, Codebeamer for application lifecycle management, and ThingWorx for industrial connectivity and application development.