Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of PTC Inc. (NASDAQ:PTC – Get Rating) by 29.5% during the 2nd quarter, Holdings Channel reports. The firm owned 8,381 shares of the technology company's stock after acquiring an additional 1,907 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in PTC were worth $891,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wedmont Private Capital bought a new stake in shares of PTC during the 2nd quarter valued at $337,000. 180 Wealth Advisors LLC bought a new stake in PTC in the 2nd quarter valued at $282,000. State of Alaska Department of Revenue increased its holdings in PTC by 12.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 16,687 shares of the technology company's stock valued at $1,774,000 after acquiring an additional 1,877 shares during the last quarter. DnB Asset Management AS increased its holdings in PTC by 12.4% in the 2nd quarter. DnB Asset Management AS now owns 1,268,204 shares of the technology company's stock valued at $134,861,000 after acquiring an additional 140,029 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in PTC by 1.8% in the 1st quarter. Amalgamated Bank now owns 40,508 shares of the technology company's stock valued at $4,364,000 after acquiring an additional 730 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.
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Insider Activity at PTC
In related news, Director Blake D. Moret sold 613 shares of PTC stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $120.43, for a total transaction of $73,823.59. Following the completion of the sale, the director now owns 9,605,717 shares in the company, valued at approximately $1,156,816,498.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Staats Aaron C. Von sold 1,000 shares of the business's stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $122.59, for a total value of $122,590.00. Following the completion of the sale, the executive vice president now owns 23,400 shares in the company, valued at approximately $2,868,606. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Blake D. Moret sold 613 shares of the business's stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $120.43, for a total transaction of $73,823.59. Following the completion of the sale, the director now owns 9,605,717 shares of the company's stock, valued at approximately $1,156,816,498.31. The disclosure for this sale can be found here. Insiders sold 272,100 shares of company stock worth $32,925,130 in the last 90 days. 10.15% of the stock is owned by corporate insiders.
PTC Price Performance
PTC stock opened at $106.04 on Friday. PTC Inc. has a 12 month low of $96.55 and a 12 month high of $136.00. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $116.90 and a 200 day moving average price of $110.86. The stock has a market cap of $12.46 billion, a PE ratio of 25.19, a P/E/G ratio of 2.64 and a beta of 1.17.
PTC (NASDAQ:PTC – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The technology company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.19. PTC had a net margin of 26.19% and a return on equity of 18.13%. The company had revenue of $462.47 million during the quarter, compared to analyst estimates of $473.65 million. During the same quarter last year, the business posted $0.54 EPS. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. Equities research analysts anticipate that PTC Inc. will post 3.25 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on PTC shares. Oppenheimer started coverage on shares of PTC in a report on Tuesday, July 26th. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. started coverage on shares of PTC in a report on Friday, September 16th. They issued a "neutral" rating and a $128.00 price target on the stock. Rosenblatt Securities reduced their price target on shares of PTC from $156.00 to $146.00 and set a "buy" rating on the stock in a report on Thursday, July 21st. StockNews.com cut shares of PTC from a "buy" rating to a "hold" rating in a research note on Friday, July 29th. Finally, Wolfe Research began coverage on shares of PTC in a research note on Tuesday, August 16th. They issued an "outperform" rating and a $155.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $138.44.
PTC Company Profile
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PTC Inc operates as software and services company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers a set of capabilities that enable enterprises to digitally transform every aspect of their business with innovative solutions that are simple to create, easy to implement, scalable to meet future needs, and designed to enable customers to accelerate time to value; and Vuforia, which enables the visualization of digital information in a physical context and the creation of AR.
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