244,922 Shares in PTC Inc. $PTC Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in PTC Inc. (NASDAQ:PTC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 244,922 shares of the technology company’s stock, valued at approximately $34,363,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.23% of PTC at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in PTC by 89.3% in the 1st quarter. Renaissance Technologies LLC now owns 389,100 shares of the technology company’s stock worth $55,443,000 after acquiring an additional 183,600 shares during the last quarter. SCS Capital Management LLC purchased a new stake in PTC during the 2nd quarter valued at about $37,912,000. Amundi grew its stake in PTC by 151.9% during the 1st quarter. Amundi now owns 1,725,555 shares of the technology company’s stock valued at $245,885,000 after purchasing an additional 1,040,656 shares during the last quarter. Hsbc Holdings PLC grew its stake in PTC by 65.0% during the 2nd quarter. Hsbc Holdings PLC now owns 587,782 shares of the technology company’s stock valued at $66,753,000 after purchasing an additional 231,563 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of PTC in the second quarter valued at about $57,186,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling

In related news, Director Corinna Lathan sold 1,750 shares of PTC stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $195.75, for a total transaction of $342,562.50. Following the completion of the transaction, the director directly owned 6,679 shares in the company, valued at approximately $1,307,414.25. This trade represents a 20.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PTC. Deutsche Bank Aktiengesellschaft downgraded PTC to a “hold” rating and set a $205.00 target price for the company. in a report on Monday, October 5th. Barclays lowered PTC from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $155.00 to $205.00 in a research report on Monday, October 5th. Royal Bank Of Canada downgraded shares of PTC from a “buy” rating to a “sector perform” rating and increased their price target for the stock from $195.00 to $306.00 in a report on Monday, October 5th. Rosenblatt Securities lowered shares of PTC from a “buy” rating to a “neutral” rating and raised their price target for the stock from $190.00 to $205.00 in a research report on Monday, October 5th. Finally, JPMorgan Chase & Co. upgraded shares of PTC from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $145.00 to $205.00 in a research note on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $200.06.

PTC Price Performance

Shares of PTC opened at $195.54 on Friday. The business’s 50-day moving average is $162.93 and its two-hundred day moving average is $147.40. The company has a market capitalization of $21.22 billion, a P/E ratio of 18.91, a P/E/G ratio of 2.56 and a beta of 0.99. PTC Inc. has a fifty-two week low of $108.50 and a fifty-two week high of $199.51. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.03.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.01. PTC had a return on equity of 25.31% and a net margin of 41.67%. The business had revenue of $600.05 million during the quarter, compared to analysts’ expectations of $611.62 million. During the same quarter in the previous year, the firm posted $1.64 EPS. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. Research analysts predict that PTC Inc. will post 6.51 earnings per share for the current year.

PTC Profile

PTC Inc (NASDAQ: PTC) develops software that helps manufacturers and other industrial companies design, manage, and optimize products and production processes. Its portfolio supports computer-aided design, product lifecycle management, digital manufacturing, and industrial Internet of Things initiatives.

The company’s products include Creo for 3D computer-aided design and engineering, Windchill for product lifecycle management, and Codebeamer for application lifecycle management. PTC also offers ThingWorx for industrial connectivity and IoT applications, Kepware for industrial automation connectivity, and Vuforia for augmented reality solutions.

Founded in 1985, PTC serves customers globally across industries such as automotive, aerospace and defense, industrial equipment, electronics, and life sciences.