Sumitomo Mitsui DS Asset Management Company Ltd Purchases 3,101 Shares of PTC Inc. (NASDAQ:PTC)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in PTC Inc. (NASDAQ:PTC) by 23.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,315 shares of the technology company’s stock after purchasing an additional 3,101 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PTC were worth $3,000,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. State Street Corp increased its holdings in PTC by 2.7% during the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after acquiring an additional 133,370 shares during the period. Geode Capital Management LLC increased its holdings in shares of PTC by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock worth $533,341,000 after purchasing an additional 37,645 shares during the period. Fernbridge Capital Management LP increased its holdings in shares of PTC by 83.7% in the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after purchasing an additional 650,990 shares during the period. Franklin Resources Inc. raised its position in shares of PTC by 2.9% in the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock worth $203,463,000 after buying an additional 30,525 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in PTC by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after buying an additional 150,652 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other PTC news, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.00, for a total transaction of $172,000.00. Following the transaction, the director now owns 6,843 shares in the company, valued at approximately $1,368,600. This represents a 11.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the sale, the chief accounting officer now owns 830 shares in the company, valued at $160,356. This represents a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,242 shares of company stock valued at $3,630,716. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PTC has been the topic of a number of research analyst reports. KeyCorp upped their target price on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird raised their target price on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price target on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Rosenblatt Securities restated a “buy” rating and set a $204.00 price objective on shares of PTC in a research report on Tuesday, February 4th. Finally, Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and cut their target price for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, PTC currently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Stock Down 1.5 %

PTC opened at $169.02 on Monday. The company has a market cap of $20.34 billion, a P/E ratio of 52.17, a P/E/G ratio of 2.33 and a beta of 1.19. PTC Inc. has a 12 month low of $163.30 and a 12 month high of $203.09. The business’s 50-day moving average price is $189.31 and its 200-day moving average price is $183.62. The company has a current ratio of 1.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.48.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. On average, equities analysts expect that PTC Inc. will post 4.62 EPS for the current year.

PTC Company 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.