Willis Johnson & Associates Inc. Buys New Position in PTC Inc. (NASDAQ:PTC)

Willis Johnson & Associates Inc. purchased a new stake in PTC Inc. (NASDAQ:PTC) during the 4th quarter, HoldingsChannel reports. The firm purchased 2,070 shares of the technology company’s stock, valued at approximately $381,000.

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

PTC Stock Down 0.3%

Shares of PTC stock opened at $172.39 on Tuesday. The company has a 50-day simple moving average of $154.92 and a two-hundred day simple moving average of $173.85. The stock has a market capitalization of $20.68 billion, a PE ratio of 53.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $203.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69.

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

Insider Transactions at PTC

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PTC. Piper Sandler reduced their price target on PTC from $202.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $160.00 target price (down from $210.00) on shares of PTC in a research report on Wednesday, April 9th. BMO Capital Markets lifted their price target on shares of PTC from $183.00 to $187.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Stifel Nicolaus dropped their price objective on shares of PTC from $230.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, KeyCorp decreased their target price on shares of PTC from $211.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.15.

About PTC

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.