Pacer Advisors Inc. Boosts Stake in PTC Inc. $PTC

Pacer Advisors Inc. grew its position in shares of PTC Inc. (NASDAQ:PTC) by 173.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 195,896 shares of the technology company’s stock after acquiring an additional 124,306 shares during the quarter. Pacer Advisors Inc. owned about 0.16% of PTC worth $39,771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in PTC by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock worth $2,541,838,000 after purchasing an additional 416,791 shares in the last quarter. State Street Corp grew its stake in PTC by 4.0% during the second quarter. State Street Corp now owns 5,372,296 shares of the technology company’s stock worth $925,861,000 after buying an additional 205,029 shares during the period. Geode Capital Management LLC increased its position in shares of PTC by 8.4% in the second quarter. Geode Capital Management LLC now owns 3,415,785 shares of the technology company’s stock worth $586,438,000 after acquiring an additional 265,558 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of PTC by 31.4% in the 2nd quarter. Lazard Asset Management LLC now owns 1,547,622 shares of the technology company’s stock valued at $266,715,000 after acquiring an additional 370,097 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of PTC by 27.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,517,480 shares of the technology company’s stock valued at $235,134,000 after acquiring an additional 327,326 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

PTC Price Performance

Shares of NASDAQ PTC opened at $176.59 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.12 and a debt-to-equity ratio of 0.31. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $219.69. The business has a 50 day moving average price of $181.76 and a two-hundred day moving average price of $192.32. The firm has a market cap of $21.09 billion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 2.94 and a beta of 1.03.

PTC (NASDAQ:PTC) last released its earnings results on Friday, November 21st. The technology company reported $2.10 EPS for the quarter. PTC had a return on equity of 23.03% and a net margin of 27.05%.The company had revenue of $1.76 billion during the quarter. Sell-side analysts expect that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 6,328 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $174.79, for a total value of $1,106,071.12. Following the sale, the executive vice president owned 22,461 shares in the company, valued at approximately $3,925,958.19. This represents a 21.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kristian Talvitie sold 50,291 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total transaction of $8,707,383.74. Following the transaction, the executive vice president directly owned 12,386 shares in the company, valued at $2,144,512.04. The trade was a 80.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,277 shares of company stock worth $10,624,076 over the last quarter. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Robert W. Baird set a $255.00 price objective on PTC in a research report on Wednesday, October 22nd. Rosenblatt Securities lowered their target price on PTC from $227.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Zacks Research lowered PTC from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. BMO Capital Markets lowered their price objective on shares of PTC from $231.00 to $219.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Finally, Piper Sandler dropped their price objective on shares of PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.92.

About PTC

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.