Norges Bank Buys Shares of 700,779 PTC Inc. (NASDAQ:PTC)

Norges Bank purchased a new position in PTC Inc. (NASDAQ:PTC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 700,779 shares of the technology company's stock, valued at approximately $128,852,000. Norges Bank owned approximately 0.58% of PTC at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Allworth Financial LP grew its holdings in shares of PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company's stock valued at $35,000 after purchasing an additional 69 shares during the period. Assetmark Inc. grew its stake in shares of PTC by 825.0% in the 4th quarter. Assetmark Inc. now owns 333 shares of the technology company's stock valued at $61,000 after buying an additional 297 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of PTC by 83.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company's stock worth $83,000 after buying an additional 205 shares during the last quarter. Sentry Investment Management LLC purchased a new stake in shares of PTC during the 4th quarter valued at approximately $84,000. Finally, Jones Financial Companies Lllp lifted its holdings in PTC by 1,140.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the technology company's stock valued at $84,000 after acquiring an additional 422 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PTC

In related news, Director Corinna Lathan sold 622 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction of $96,739.66. Following the transaction, the director now owns 7,604 shares in the company, valued at $1,182,650.12. This trade represents a 7.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.32% of the company's stock.

PTC Stock Down 6.5 %

Shares of PTC stock traded down $9.76 on Friday, reaching $139.77. 1,244,232 shares of the company were exchanged, compared to its average volume of 862,770. The stock's 50 day moving average price is $166.16 and its 200-day moving average price is $180.24. The company has a market cap of $16.82 billion, a P/E ratio of 43.14, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. PTC Inc. has a 1-year low of $139.66 and a 1-year high of $203.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. As a group, equities analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PTC shares. KeyCorp lifted their target price on PTC from $205.00 to $211.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Citigroup decreased their price objective on shares of PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 target price on shares of PTC in a report on Tuesday, February 4th. Stifel Nicolaus upped their price target on PTC from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Finally, StockNews.com downgraded PTC from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, PTC currently has an average rating of "Moderate Buy" and a consensus target price of $210.09.

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.