E Fund Management Co. Ltd. Takes $252,000 Position in PTC Inc. (NASDAQ:PTC)

E Fund Management Co. Ltd. bought a new position in shares of PTC Inc. (NASDAQ:PTC) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,385 shares of the technology company’s stock, valued at approximately $252,000.

A number of other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its position in shares of PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after acquiring an additional 62 shares during the period. Blue Trust Inc. grew its holdings in 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 purchasing an additional 122 shares during the period. Rothschild Investment LLC bought a new position in PTC during the second quarter worth about $29,000. International Assets Investment Management LLC acquired a new position in PTC during the second quarter worth approximately $30,000. Finally, OFI Invest Asset Management bought a new stake in PTC in the second quarter valued at approximately $31,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PTC

In related news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $179.33, for a total value of $717,320.00. Following the transaction, the director now directly owns 48,137 shares of the company’s stock, valued at $8,632,408.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PTC news, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the transaction, the executive vice president now owns 13,902 shares of the company’s stock, valued at $2,363,340. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $179.33, for a total transaction of $717,320.00. Following the completion of the sale, the director now owns 48,137 shares in the company, valued at $8,632,408.21. The disclosure for this sale can be found here. Insiders have sold a total of 14,000 shares of company stock valued at $2,431,330 in the last ninety days. 1.17% of the stock is currently owned by company insiders.

PTC Stock Performance

Shares of NASDAQ:PTC opened at $179.13 on Friday. PTC Inc. has a 12-month low of $134.61 and a 12-month high of $194.24. The company’s 50 day moving average price is $174.39 and its two-hundred day moving average price is $178.65. The firm has a market cap of $21.52 billion, a PE ratio of 74.95, 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 (NASDAQ:PTC) last issued 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 for the quarter, compared to the consensus estimate of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. Equities research analysts predict that PTC Inc. will post 3.52 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on PTC shares. Mizuho reiterated a “neutral” rating and set a $190.00 target price (down from $200.00) on shares of PTC in a research note on Tuesday, June 4th. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $202.00 price objective on shares of PTC in a research report on Thursday, August 1st. Piper Sandler raised their target price 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. Finally, 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 note 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 company’s stock. According to data from MarketBeat.com, the company has a consensus 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.