Norges Bank bought a new position in shares of PTC Inc. (NASDAQ:PTC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 700,779 shares of the technology company's stock, valued at approximately $128,852,000. Norges Bank owned approximately 0.58% of PTC as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of PTC in the fourth quarter valued at about $146,712,000. Vanguard Group Inc. increased its stake in PTC by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company's stock valued at $2,627,961,000 after acquiring an additional 240,080 shares during the last quarter. JPMorgan Chase & Co. raised its stake in PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company's stock worth $97,193,000 after acquiring an additional 135,677 shares in the last quarter. State Street Corp lifted its stake in shares of PTC by 2.7% in the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company's stock valued at $917,088,000 after acquiring an additional 133,370 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in PTC during the 3rd quarter worth approximately $20,636,000. Institutional investors own 95.14% of the company's stock.
Analysts Set New Price Targets
A number of analysts have weighed in on the company. Rosenblatt Securities reiterated a "buy" rating and set a $204.00 price target on shares of PTC in a report on Tuesday, February 4th. Citigroup reduced their price objective on shares of PTC from $200.00 to $195.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. StockNews.com downgraded PTC from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Stifel Nicolaus upped their price objective on shares of PTC from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Finally, KeyCorp lifted their target price on shares of PTC from $205.00 to $211.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $210.09.
Get Our Latest Stock Analysis on PTC
PTC Stock Performance
PTC stock traded up $0.96 during mid-day trading on Wednesday, reaching $157.16. The company's stock had a trading volume of 692,119 shares, compared to its average volume of 856,777. The firm's fifty day moving average price is $168.55 and its two-hundred day moving average price is $180.83. 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 12-month low of $150.17 and a 12-month high of $203.09. The company has a market capitalization of $18.91 billion, a P/E ratio of 48.51, a PEG ratio of 2.27 and a beta of 1.22.
PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. Sell-side analysts predict that PTC Inc. will post 4.46 EPS for the current fiscal year.
Insider Buying and Selling
In other PTC news, Director Corinna Lathan sold 622 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the transaction, the director now directly owns 7,604 shares in the company, valued at $1,182,650.12. This represents a 7.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.
PTC Profile
(
Free Report)
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.
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