Resona Asset Management Co. Ltd. Buys Shares of 39,232 PTC Inc. (NASDAQ:PTC)

Resona Asset Management Co. Ltd. purchased a new position in PTC Inc. (NASDAQ:PTC) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 39,232 shares of the technology company’s stock, valued at approximately $7,217,000.

A number of other large investors also recently modified their holdings of PTC. Allworth Financial LP grew its position in PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after buying an additional 69 shares in the last quarter. Assetmark Inc. increased its position in shares of PTC by 825.0% in the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock worth $61,000 after purchasing an additional 297 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in PTC in the fourth quarter valued at approximately $77,000. Smartleaf Asset Management LLC lifted its position in PTC by 83.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock valued at $83,000 after purchasing an additional 205 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new position in PTC in the 4th quarter worth approximately $84,000. 95.14% of the stock is currently owned by institutional investors.

PTC Stock Performance

NASDAQ:PTC opened at $139.69 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. PTC Inc. has a fifty-two week low of $134.16 and a fifty-two week high of $203.09. The firm has a market cap of $16.81 billion, a PE ratio of 43.11, a price-to-earnings-growth ratio of 2.27 and a beta of 1.17. The business has a 50 day moving average price of $165.18 and a 200-day moving average price of $180.00.

PTC (NASDAQ:PTC) last announced its quarterly earnings results 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%. Equities research analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Activity at PTC

In other news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the sale, the director now owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Rosenblatt Securities restated a “buy” rating and set a $204.00 price target on shares of PTC in a research report on Tuesday, February 4th. KeyCorp upped their price objective on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Finally, Stifel Nicolaus upped their target price on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $210.09.

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.