Royal Bank of Canada Buys 75,441 Shares of PTC Inc. (NASDAQ:PTC)

Royal Bank of Canada grew its stake in shares of PTC Inc. (NASDAQ:PTC) by 91.3% in the fourth quarter, Holdings Channel reports. The fund owned 158,098 shares of the technology company’s stock after acquiring an additional 75,441 shares during the quarter. Royal Bank of Canada’s holdings in PTC were worth $29,070,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PTC. T. Rowe Price Investment Management Inc. grew its position in shares of PTC by 11.4% during the 4th 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 acquiring an additional 1,773,653 shares during the period. Raymond James Financial Inc. bought a new position in PTC in the 4th quarter worth approximately $146,712,000. Norges Bank purchased a new position in PTC in the 4th quarter valued at approximately $128,852,000. Point72 Asset Management L.P. purchased a new position in PTC in the 4th quarter valued at approximately $59,506,000. Finally, Janus Henderson Group PLC grew its stake in PTC by 1,753.2% in the 4th quarter. Janus Henderson Group PLC now owns 298,627 shares of the technology company’s stock valued at $54,909,000 after buying an additional 282,513 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

PTC Stock Down 0.9%

Shares of NASDAQ:PTC opened at $168.77 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 $20.24 billion, a price-to-earnings ratio of 52.09, a PEG ratio of 2.27 and a beta of 1.19. The firm has a fifty day moving average price of $156.00 and a two-hundred day moving average price of $173.56.

PTC (NASDAQ:PTC) last posted its quarterly earnings data 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. PTC had a net margin of 16.95% and a return on equity of 14.49%. The company had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. During the same period in the previous year, the firm posted $1.46 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. Analysts anticipate that PTC Inc. will post 4.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PTC shares. BMO Capital Markets lifted their price objective on shares of PTC from $183.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Wall Street Zen lowered shares of PTC from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays reduced their price objective on shares of PTC from $215.00 to $175.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Stifel Nicolaus reduced their price objective on shares of PTC from $230.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $160.00 price objective (down from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.15.

Insider Transactions at PTC

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

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.