Sumitomo Mitsui DS Asset Management Company Ltd Acquires 460 Shares of PTC Inc. (NASDAQ:PTC)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in PTC Inc. (NASDAQ:PTC) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,972 shares of the technology company’s stock after purchasing an additional 460 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PTC were worth $2,357,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. lifted its holdings in PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after buying an additional 62 shares during the period. Blue Trust Inc. raised its position in shares of PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after acquiring an additional 122 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of PTC in the second quarter worth approximately $31,000. Riverview Trust Co acquired a new stake in PTC during the 1st quarter valued at approximately $34,000. Finally, Principal Securities Inc. acquired a new stake in PTC during the 4th quarter valued at approximately $46,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other PTC news, Director Robert Schechter sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total transaction of $858,650.00. Following the completion of the sale, the director now owns 59,616 shares in the company, valued at approximately $10,237,855.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other PTC news, Director Robert Schechter sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total transaction of $858,650.00. Following the completion of the sale, the director now directly owns 59,616 shares of the company’s stock, valued at approximately $10,237,855.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Catherine Kniker sold 1,254 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.45, for a total value of $217,506.30. Following the completion of the sale, the insider now directly owns 13,598 shares of the company’s stock, valued at $2,358,573.10. The disclosure for this sale can be found here. Insiders sold a total of 19,254 shares of company stock worth $3,361,636 over the last quarter. 1.17% of the stock is currently owned by corporate insiders.

PTC Stock Performance

Shares of PTC stock opened at $179.09 on Friday. The business has a 50-day simple moving average of $176.95 and a 200 day simple moving average of $179.51. The firm has a market capitalization of $21.44 billion, a price-to-earnings ratio of 74.93, a PEG ratio of 3.23 and a beta of 1.18. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. PTC Inc. has a one year low of $134.61 and a one year high of $194.24.

Analyst Ratings Changes

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

PTC 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.