GAMMA Investing LLC Acquires 566 Shares of PTC Inc. (NASDAQ:PTC)

GAMMA Investing LLC boosted its position in shares of PTC Inc. (NASDAQ:PTC) by 53.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,620 shares of the technology company’s stock after acquiring an additional 566 shares during the period. GAMMA Investing LLC’s holdings in PTC were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PTC. Raymond James Financial Services Advisors Inc. acquired a new position in shares of PTC in the 4th quarter worth approximately $643,000. Arizona State Retirement System increased its position in shares of PTC by 6.5% in the 4th quarter. Arizona State Retirement System now owns 32,660 shares of the technology company’s stock valued at $5,714,000 after purchasing an additional 1,986 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of PTC by 9,600.0% in the 4th quarter. International Assets Investment Management LLC now owns 28,518 shares of the technology company’s stock valued at $4,990,000 after purchasing an additional 28,224 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of PTC by 3.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 24,482 shares of the technology company’s stock valued at $4,283,000 after purchasing an additional 708 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its position in shares of PTC by 10.3% in the 4th quarter. Bleakley Financial Group LLC now owns 1,974 shares of the technology company’s stock valued at $345,000 after purchasing an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Trading Down 2.2 %

Shares of PTC stock traded down $3.87 during mid-day trading on Monday, reaching $168.18. The stock had a trading volume of 1,819,763 shares, compared to its average volume of 845,194. The stock’s 50-day moving average price is $177.54 and its two-hundred day moving average price is $180.31. PTC Inc. has a 52-week low of $134.61 and a 52-week high of $194.24. The firm has a market capitalization of $20.13 billion, a PE ratio of 71.99, a price-to-earnings-growth ratio of 3.30 and a beta of 1.18. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.60.

Wall Street Analyst Weigh In

PTC has been the subject of a number of research analyst reports. Piper Sandler increased their price target on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday. Mizuho reissued a “neutral” rating and issued a $190.00 price objective (down previously from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Rosenblatt Securities boosted their price objective on shares of PTC from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Finally, Citigroup lowered their target price on shares of PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.18.

Insider Buying and Selling

In related news, COO Michael Ditullio sold 6,592 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the sale, the chief operating officer now owns 53,148 shares of the company’s stock, valued at $9,734,056.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PTC news, insider Catherine Kniker sold 1,254 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.45, for a total transaction of $217,506.30. Following the completion of the sale, the insider now owns 13,598 shares of the company’s stock, valued at $2,358,573.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Ditullio sold 6,592 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $183.15, for a total value of $1,207,324.80. Following the completion of the transaction, the chief operating officer now directly owns 53,148 shares of the company’s stock, valued at approximately $9,734,056.20. The disclosure for this sale can be found here. Insiders have sold 15,846 shares of company stock valued at $2,854,951 over the last quarter. Corporate insiders own 1.17% of the company’s stock.

About PTC

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.