BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stock Position in PTC Inc. (NASDAQ:PTC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of PTC Inc. (NASDAQ:PTC) by 60.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,896 shares of the technology company’s stock after buying an additional 8,636 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in PTC were worth $4,160,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PTC. Wellington Management Group LLP boosted its position in PTC by 1,409.3% during the fourth quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock valued at $294,006,000 after buying an additional 1,569,081 shares during the period. Twin Focus Capital Partners LLC purchased a new stake in PTC during the 4th quarter valued at about $177,081,000. Balyasny Asset Management L.P. boosted its holdings in PTC by 173.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock valued at $95,050,000 after acquiring an additional 344,853 shares during the period. Massachusetts Financial Services Co. MA grew its position in PTC by 66.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after acquiring an additional 310,092 shares during the last quarter. Finally, Matrix Capital Management Company LP purchased a new position in PTC in the 1st quarter worth approximately $56,076,000. Institutional investors own 95.14% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total transaction of $170,000.00. Following the sale, the executive vice president now owns 13,902 shares in the company, valued at approximately $2,363,340. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Staats Aaron C. Von sold 1,000 shares of PTC stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the transaction, the executive vice president now directly owns 13,902 shares in the company, valued at $2,363,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the transaction, the director now directly owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,000 shares of company stock worth $2,431,330. 1.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PTC. Mizuho reissued a “neutral” rating and set a $190.00 price objective (down previously from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Piper Sandler increased their price target on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Rosenblatt Securities boosted their price objective on shares of PTC from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $202.00 price objective on shares of PTC in a research note on Thursday, August 1st. Finally, StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, PTC presently has an average rating of “Moderate Buy” and an average price target of $200.18.

PTC Price Performance

PTC stock opened at $182.18 on Friday. The firm has a 50-day moving average of $174.02 and a 200 day moving average of $178.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $21.81 billion, a P/E ratio of 76.23, a PEG ratio of 3.32 and a beta of 1.18. PTC Inc. has a 1 year low of $134.61 and a 1 year high of $194.24.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. PTC had a return on equity of 13.36% and a net margin of 13.32%. The firm had revenue of $518.64 million during the quarter, compared to analyst estimates of $533.04 million. On average, sell-side analysts forecast that PTC Inc. will post 3.52 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.