Parallel Advisors LLC Acquires 97 Shares of PTC Inc. (NASDAQ:PTC)

Parallel Advisors LLC boosted its holdings in shares of PTC Inc. (NASDAQ:PTCFree Report) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 903 shares of the technology company’s stock after purchasing an additional 97 shares during the quarter. Parallel Advisors LLC’s holdings in PTC were worth $158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PTC. Vanguard Group Inc. lifted its stake in shares of PTC by 6.6% in the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock valued at $1,965,137,000 after buying an additional 859,227 shares during the period. Norges Bank bought a new stake in shares of PTC during the fourth quarter valued at approximately $114,043,000. Northern Trust Corp raised its stake in shares of PTC by 15.6% in the third quarter. Northern Trust Corp now owns 1,252,741 shares of the technology company’s stock valued at $177,488,000 after purchasing an additional 168,917 shares in the last quarter. Invesco Ltd. boosted its stake in PTC by 5.8% during the third quarter. Invesco Ltd. now owns 2,494,767 shares of the technology company’s stock worth $353,459,000 after buying an additional 137,100 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in PTC by 52.1% during the third quarter. Hsbc Holdings PLC now owns 332,752 shares of the technology company’s stock worth $47,192,000 after buying an additional 113,982 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insiders Place Their Bets

In other news, COO Michael Ditullio sold 6,592 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $183.15, for a total value of $1,207,324.80. Following the transaction, the chief operating officer now directly owns 53,148 shares in the company, valued at approximately $9,734,056.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.17% of the company’s stock.

Wall Street Analysts Forecast Growth

PTC has been the subject of a number of analyst reports. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Citigroup decreased their price objective on PTC from $195.00 to $187.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 target price on shares of PTC in a report on Friday, April 12th. Robert W. Baird raised their target price on PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, Barclays upped their price target on PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, PTC has a consensus rating of “Moderate Buy” and a consensus price target of $200.64.

Get Our Latest Stock Report on PTC

PTC Stock Performance

PTC stock opened at $174.11 on Tuesday. The company has a 50 day moving average price of $181.13 and a 200 day moving average price of $176.80. PTC Inc. has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $20.84 billion, a PE ratio of 72.85, a price-to-earnings-growth ratio of 3.31 and a beta of 1.18.

PTC (NASDAQ:PTCGet Free Report) last released its earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.23. PTC had a return on equity of 13.76% and a net margin of 12.84%. The company had revenue of $603.07 million during the quarter, compared to the consensus estimate of $575.53 million. Analysts forecast that PTC Inc. will post 3.48 EPS for the current year.

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.

See Also

Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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