Nippon Life Global Investors Americas Inc. lessened its holdings in PTC Inc (NASDAQ:PTC) by 8.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 179,740 shares of the technology company’s stock after selling 17,010 shares during the period. PTC accounts for approximately 1.3% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 20th biggest position. Nippon Life Global Investors Americas Inc. owned about 0.15% of PTC worth $16,568,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of PTC. Oregon Public Employees Retirement Fund grew its position in shares of PTC by 8,190.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,497,800 shares of the technology company’s stock valued at $42,000 after purchasing an additional 3,455,607 shares in the last quarter. Norges Bank bought a new position in shares of PTC in the 4th quarter valued at about $197,240,000. BlackRock Inc. lifted its holdings in shares of PTC by 10.1% in the 4th quarter. BlackRock Inc. now owns 11,472,093 shares of the technology company’s stock valued at $951,035,000 after acquiring an additional 1,055,829 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of PTC by 22,755.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 760,863 shares of the technology company’s stock valued at $80,796,000 after acquiring an additional 757,534 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of PTC by 49.3% in the 4th quarter. American Century Companies Inc. now owns 942,970 shares of the technology company’s stock valued at $78,172,000 after acquiring an additional 311,508 shares during the last quarter. Institutional investors and hedge funds own 91.56% of the company’s stock.
PTC stock traded up $1.19 during trading on Wednesday, hitting $86.52. 566,348 shares of the company’s stock traded hands, compared to its average volume of 1,186,430. The firm has a market cap of $9.82 billion, a price-to-earnings ratio of 96.13, a PEG ratio of 2.62 and a beta of 1.21. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. PTC Inc has a 1 year low of $76.67 and a 1 year high of $107.44.
PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.03. The company had revenue of $315.50 million for the quarter, compared to analyst estimates of $312.29 million. PTC had a net margin of 3.06% and a return on equity of 11.68%. PTC’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share. Analysts anticipate that PTC Inc will post 1.05 EPS for the current fiscal year.
In other PTC news, CFO Andrew Miller sold 44,462 shares of PTC stock in a transaction on Friday, March 1st. The shares were sold at an average price of $93.31, for a total value of $4,148,749.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Donald K. Grierson sold 5,000 shares of PTC stock in a transaction on Friday, March 1st. The stock was sold at an average price of $93.31, for a total transaction of $466,550.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,487 shares of company stock worth $6,322,997. 9.91% of the stock is currently owned by corporate insiders.
A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of PTC from a “hold” rating to a “strong-buy” rating and set a $109.00 price target for the company in a report on Friday, April 12th. TheStreet downgraded shares of PTC from a “b-” rating to a “c” rating in a research note on Wednesday, April 24th. Deutsche Bank decreased their price objective on shares of PTC from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Evercore ISI reissued a “buy” rating and issued a $110.00 price objective on shares of PTC in a research note on Sunday, April 28th. Finally, JPMorgan Chase & Co. downgraded shares of PTC from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $88.00 to $85.00 in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. PTC presently has an average rating of “Buy” and a consensus price target of $103.88.
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PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
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