Point72 Asset Management L.P. Purchases New Stake in PTC Inc. (NASDAQ:PTC)

Point72 Asset Management L.P. acquired a new position in PTC Inc. (NASDAQ:PTC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 323,633 shares of the technology company’s stock, valued at approximately $59,506,000. Point72 Asset Management L.P. owned 0.27% of PTC as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PTC. T. Rowe Price Investment Management Inc. raised its stake in shares of PTC by 11.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company’s stock worth $3,174,432,000 after buying an additional 1,773,653 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of PTC by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock valued at $2,627,961,000 after purchasing an additional 240,080 shares during the period. Geode Capital Management LLC boosted its position in shares of PTC by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company’s stock worth $555,626,000 after purchasing an additional 67,504 shares during the last quarter. Fernbridge Capital Management LP increased its holdings in PTC by 6.0% in the fourth quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company’s stock valued at $278,484,000 after purchasing an additional 85,564 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in PTC by 11.0% in the fourth quarter. Northern Trust Corp now owns 1,313,273 shares of the technology company’s stock valued at $241,472,000 after buying an additional 129,910 shares during the period. 95.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following the transaction, the executive vice president now directly owns 17,731 shares in the company, valued at approximately $2,836,960. This represents a 10.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Corinna Lathan sold 622 shares of PTC stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the completion of the sale, the director now owns 7,604 shares of the company’s stock, valued at $1,182,650.12. This represents a 7.56% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PTC has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on PTC from $185.00 to $191.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Monday, May 5th. BMO Capital Markets lifted their price target on shares of PTC from $183.00 to $187.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Barclays decreased their target price on PTC from $215.00 to $175.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Finally, Piper Sandler lowered their price objective on shares of PTC from $202.00 to $180.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, PTC currently has an average rating of “Moderate Buy” and an average price target of $187.15.

PTC Price Performance

Shares of NASDAQ:PTC opened at $171.80 on Friday. PTC Inc. has a one year low of $133.38 and a one 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. The company has a market cap of $20.61 billion, a price-to-earnings ratio of 53.02, a PEG ratio of 2.27 and a beta of 1.19. The firm has a 50 day simple moving average of $154.30 and a 200 day simple moving average of $174.22.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.42. The business had revenue of $636.37 million during the quarter, compared to analysts’ expectations of $608.64 million. PTC had a return on equity of 14.49% and a net margin of 16.95%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 EPS. Research analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal 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.