PTC Inc. (NASDAQ:PTC) Stake Boosted by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. increased its stake in PTC Inc. (NASDAQ:PTC) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,830 shares of the technology company’s stock after purchasing an additional 870 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in PTC were worth $9,779,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC lifted its stake in PTC by 180.8% in the first quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock valued at $5,115,000 after buying an additional 17,430 shares during the last quarter. Portfolio Design Labs LLC acquired a new position in PTC during the 4th quarter valued at about $4,316,000. Swedbank AB bought a new position in PTC in the 1st quarter worth about $9,849,000. BNP Paribas Financial Markets increased its stake in shares of PTC by 133.1% in the first quarter. BNP Paribas Financial Markets now owns 122,819 shares of the technology company’s stock valued at $23,205,000 after purchasing an additional 70,131 shares during the period. Finally, Norden Group LLC raised its holdings in shares of PTC by 1,600.7% during the first quarter. Norden Group LLC now owns 55,308 shares of the technology company’s stock valued at $10,450,000 after buying an additional 52,056 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Buying and Selling

In other news, EVP Staats Aaron C. Von sold 1,000 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 13,902 shares of the company’s stock, valued at $2,363,340. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Robert Schechter sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total value of $858,650.00. Following the completion of the transaction, the director now owns 59,616 shares of the company’s stock, valued at approximately $10,237,855.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total transaction of $170,000.00. Following the sale, the executive vice president now directly owns 13,902 shares in the company, valued at $2,363,340. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $2,431,330 in the last three months. 1.17% of the stock is currently owned by insiders.

PTC Stock Performance

NASDAQ:PTC opened at $175.90 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $174.25 and a 200-day moving average of $178.54. PTC Inc. has a twelve month low of $134.61 and a twelve month high of $194.24. The firm has a market cap of $21.06 billion, a price-to-earnings ratio of 73.60, a price-to-earnings-growth ratio of 3.24 and a beta of 1.18.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The firm 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%. Analysts forecast that PTC Inc. will post 3.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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