Massachusetts Financial Services Co. MA Acquires 310,092 Shares of PTC Inc. (NASDAQ:PTC)

Massachusetts Financial Services Co. MA boosted its holdings in shares of PTC Inc. (NASDAQ:PTC) by 66.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 773,804 shares of the technology company’s stock after acquiring an additional 310,092 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.65% of PTC worth $140,577,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PTC. Blue Trust Inc. raised its stake in shares of PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. First Horizon Advisors Inc. raised its position in PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after purchasing an additional 62 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of PTC in the 2nd quarter worth $29,000. International Assets Investment Management LLC bought a new position in shares of PTC during the 2nd quarter worth $30,000. Finally, OFI Invest Asset Management purchased a new position in shares of PTC during the second quarter valued at $31,000. Institutional investors own 95.14% of the company’s stock.

PTC Stock Performance

Shares of PTC stock opened at $175.13 on Thursday. The company has a 50 day moving average price of $174.40 and a 200 day moving average price of $178.65. The firm has a market capitalization of $21.04 billion, a P/E ratio of 73.28, a PEG ratio of 3.19 and a beta of 1.18. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. PTC Inc. has a 52 week low of $134.61 and a 52 week high of $194.24.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $518.64 million during the quarter, compared to analysts’ expectations of $533.04 million. PTC had a net margin of 13.32% and a return on equity of 13.36%. Sell-side analysts expect that PTC Inc. will post 3.52 EPS for the current year.

Insider Buying and Selling

In other news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the sale, the director now directly owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the transaction, the director now owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Staats Aaron C. Von sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total value of $170,000.00. Following the completion of the sale, the executive vice president now owns 13,902 shares in the company, valued at approximately $2,363,340. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock valued at $2,431,330 over the last quarter. 1.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.