LGT Group Foundation Purchases 6,733 Shares of PTC Inc. (NASDAQ:PTC)

LGT Group Foundation boosted its stake in PTC Inc. (NASDAQ:PTC) by 29.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,478 shares of the technology company’s stock after purchasing an additional 6,733 shares during the quarter. LGT Group Foundation’s holdings in PTC were worth $5,186,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. increased its holdings in PTC by 4.7% in the fourth quarter. First Trust Direct Indexing L.P. now owns 1,797 shares of the technology company’s stock valued at $314,000 after purchasing an additional 81 shares during the last quarter. Norden Group LLC increased its holdings in shares of PTC by 64.0% in the fourth quarter. Norden Group LLC now owns 3,252 shares of the technology company’s stock worth $569,000 after acquiring an additional 1,269 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of PTC by 26.0% in the fourth quarter. Van ECK Associates Corp now owns 523 shares of the technology company’s stock worth $92,000 after acquiring an additional 108 shares in the last quarter. Gitterman Wealth Management LLC bought a new stake in shares of PTC in the fourth quarter worth about $242,000. Finally, PGGM Investments increased its holdings in shares of PTC by 12.0% in the fourth quarter. PGGM Investments now owns 4,540 shares of the technology company’s stock worth $794,000 after acquiring an additional 486 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

PTC Price Performance

Shares of NASDAQ PTC traded up $5.27 during mid-day trading on Friday, hitting $175.87. 903,511 shares of the stock traded hands, compared to its average volume of 857,274. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.19 and a quick ratio of 1.19. PTC Inc. has a twelve month low of $124.42 and a twelve month high of $194.24. The company has a market cap of $21.03 billion, a PE ratio of 86.60, a price-to-earnings-growth ratio of 3.12 and a beta of 1.19. The firm has a 50 day simple moving average of $183.40 and a two-hundred day simple moving average of $170.96.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. The firm had revenue of $550.21 million for the quarter, compared to the consensus estimate of $538.59 million. PTC had a return on equity of 14.08% and a net margin of 12.84%. As a group, equities research analysts forecast that PTC Inc. will post 3.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on PTC shares. JPMorgan Chase & Co. raised PTC from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $130.00 to $200.00 in a research report on Thursday, January 4th. KeyCorp upped their price objective on PTC from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Rosenblatt Securities reissued a “buy” rating and set a $195.00 price target on shares of PTC in a research report on Friday, April 12th. Barclays increased their price target on PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $202.00 price target on shares of PTC in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, PTC presently has an average rating of “Moderate Buy” and an average target price of $200.64.

Insider Transactions at PTC

In other news, insider Catherine Kniker sold 1,330 shares of PTC stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the completion of the transaction, the insider now directly owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO James E. Heppelmann sold 35,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the sale, the chief executive officer now directly owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Catherine Kniker sold 1,330 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $179.59, for a total value of $238,854.70. Following the completion of the sale, the insider now directly owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The disclosure for this sale can be found here. Corporate insiders own 1.17% of the company’s stock.

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.