Amalgamated Bank increases its position in PTC Inc. (NASDAQ:PTC)

VaselineSeptember 22, 2024

0 4 minutes read

Amalgamated Bank grew its holdings in shares of PTC Inc. (NASDAQ:PTC – Free Report) by 0.7% in the second quarter, Holdings Channel.com reports. The firm owned 25,128 shares of the technology company’s stock after acquiring an additional 164 shares during the period. Amalgamated Bank’s holdings in PTC were worth $4,565,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PTC. 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 buying an additional 62 shares in the last quarter. Blue Trust Inc. grew its position in shares of PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. Rothschild Investment LLC purchased a new position in PTC in the second quarter valued at approximately $29,000. International Assets Investment Management LLC bought a new position in PTC in the second quarter valued at approximately $30,000. Finally, OFI Invest Asset Management purchased a new stake in PTC in the 2nd quarter valued at $31,000. 95.14% of the shares are currently held by hedge funds and other institutional investors.

PTC price performance

Shares of PTC stock opened at $175.90 on Friday. The stock has a market cap of $21.06 billion, a P/E ratio of 73.60, a P/E/G ratio of 3.24 and a beta of 1.18. 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’s fifty-day moving average is $174.25, and its 200-day moving average is $178.57. PTC Inc. it has a one year low of $134.61 and a one year high of $194.24.

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PTC (NASDAQ:PTC – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $518.64 million for the quarter, compared to the consensus estimate of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. Sell-side analysts anticipate that PTC Inc. will post 3.52 earnings per share for the current year.

Analysts set new price targets

A number of research analysts recently issued reports on PTC shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $202.00 target price on shares of PTC in a report 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. Mizuho reiterated a “neutral” rating and issued a $190.00 target price (down from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Piper Sandler boosted their price objective on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Rosenblatt Securities raised their target price on shares of PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Moderate Buy” and a consensus price target of $200.18, according to MarketBeat.com.

Check out our latest research report on PTC

Insider buying and selling at PTC

In other news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $179.33, for a total value of $717,320.00. Following the sale, the director now directly owns 48,137 shares in the company, valued at approximately $8,632,408.21. The transaction was disclosed in a legal filing with the SEC, which is accessible via this link. In other news, Director Robert Schechter sold 5,000 shares of the firm’s stock in a transaction dated 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 owns 59,616 shares in the company, valued at approximately $10,237,855.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, Director Janice Chaffin sold 4,000 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $179.33, for a total transaction of $717,320.00. Following the completion of the sale, the director now directly owns 48,137 shares in the company, valued at $8,632,408.21. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $2,431,330 in the last 90 days. 1.17% of shares are currently held by corporate insiders.

PTC profile

(Free Report)

PTC Inc operates as a software company in the Americas, Europe and Asia Pacific. The company offers Windchill, a suite that manages all aspects of the product development lifecycle (PLM) that provides real-time information sharing, dynamic data visualization, collaboration between geographically distributed teams and enabling manufacturers to increase product development, production and service- the field. processes; ThingWorx, a platform for the Industrial Internet of Things; ServiceMax, a field service management solution, enables companies to optimize uptime with optimized in-person and remote service and technician productivity with mobile tools.