Meiji Yasuda Asset Management Co Ltd. Purchases 382 Shares of PTC Inc. (NASDAQ:PTC)

Meiji Yasuda Asset Management Co Ltd. raised its position in PTC Inc. (NASDAQ:PTC) by 14.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,959 shares of the technology company’s stock after buying an additional 382 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in PTC were worth $538,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in PTC during the 4th quarter worth approximately $46,000. Dimensional Fund Advisors LP grew its holdings in shares of PTC by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 468,918 shares of the technology company’s stock worth $82,044,000 after purchasing an additional 3,925 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of PTC by 20.3% in the fourth quarter. Brown Advisory Inc. now owns 9,899 shares of the technology company’s stock valued at $1,732,000 after buying an additional 1,667 shares in the last quarter. Norges Bank acquired a new stake in shares of PTC in the fourth quarter valued at $114,043,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of PTC by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,612 shares of the technology company’s stock valued at $807,000 after buying an additional 113 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

PTC Stock Performance

Shares of NASDAQ:PTC opened at $175.90 on Friday. The firm’s 50 day simple moving average is $174.25 and its 200 day simple moving average is $178.58. PTC Inc. has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The company has a market capitalization of $21.13 billion, a price-to-earnings ratio of 73.60, a P/E/G ratio of 3.24 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 (NASDAQ:PTC) last posted its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. The company had revenue of $518.64 million for the quarter, compared to analyst estimates of $533.04 million. PTC had a net margin of 13.32% and a return on equity of 13.36%. As a group, sell-side analysts forecast that PTC Inc. will post 3.52 earnings per share for the current year.

Insiders Place Their Bets

In other PTC news, 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 sale, the director now directly owns 48,137 shares in the company, valued at approximately $8,632,408.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robert Schechter sold 5,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 59,616 shares in the company, valued at $10,237,855.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the director now directly owns 48,137 shares in the company, valued at approximately $8,632,408.21. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock worth $2,431,330 over the last ninety days. 1.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

PTC Company 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.