244,922 Shares of PTC Inc. $PTC Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in PTC Inc. (NASDAQ:PTC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 244,922 shares of the technology company’s stock, valued at approximately $34,363,000.

A number of other hedge funds also recently bought and sold shares of the business. Choreo LLC increased its holdings in PTC by 25.5% in the 3rd quarter. Choreo LLC now owns 3,551 shares of the technology company’s stock worth $498,000 after acquiring an additional 721 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in PTC by 0.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 58,349 shares of the technology company’s stock valued at $8,186,000 after buying an additional 498 shares in the last quarter. Viewpoint Investment Partners Corp acquired a new stake in PTC in the 3rd quarter worth about $295,000. V Square Quantitative Management LLC boosted its holdings in PTC by 16.9% in the 3rd quarter. V Square Quantitative Management LLC now owns 4,519 shares of the technology company’s stock worth $634,000 after buying an additional 653 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in PTC by 13.2% during the 2nd quarter. QRG Capital Management Inc. now owns 7,089 shares of the technology company’s stock worth $805,000 after buying an additional 828 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analysts Set New Price Targets

PTC has been the subject of a number of research analyst reports. Piper Sandler reduced their target price on PTC from $175.00 to $157.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Loop Capital lowered PTC from a “buy” rating to a “hold” rating and lifted their price target for the stock from $200.00 to $205.00 in a research note on Monday, October 5th. Deutsche Bank Aktiengesellschaft cut PTC to a “hold” rating and set a $205.00 price target for the company. in a research report on Monday, October 5th. Stifel Nicolaus set a $205.00 price objective on PTC in a research note on Monday, October 5th. Finally, Mizuho raised their price objective on PTC from $160.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $200.06.

PTC Stock Up 0.4%

Shares of NASDAQ PTC opened at $195.54 on Friday. The stock has a market cap of $21.22 billion, a PE ratio of 18.91, a P/E/G ratio of 2.56 and a beta of 0.99. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40. PTC Inc. has a 12-month low of $108.50 and a 12-month high of $199.51. The company has a 50-day moving average of $162.93 and a 200 day moving average of $147.40.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, July 29th. The technology company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. The business had revenue of $600.05 million for the quarter, compared to analyst estimates of $611.62 million. PTC had a net margin of 41.67% and a return on equity of 25.31%. The business’s revenue was down 6.8% on a year-over-year basis. During the same period last year, the company posted $1.64 EPS. As a group, sell-side analysts predict that PTC Inc. will post 6.51 EPS for the current fiscal year.

Insider Activity

In other news, Director Corinna Lathan sold 1,750 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $195.75, for a total value of $342,562.50. Following the completion of the sale, the director directly owned 6,679 shares in the company, valued at $1,307,414.25. This represents a 20.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.

PTC Company Profile

PTC Inc (NASDAQ: PTC) develops software that helps manufacturers and other industrial companies design, manage, and optimize products and production processes. Its portfolio supports computer-aided design, product lifecycle management, digital manufacturing, and industrial Internet of Things initiatives.

The company’s products include Creo for 3D computer-aided design and engineering, Windchill for product lifecycle management, and Codebeamer for application lifecycle management. PTC also offers ThingWorx for industrial connectivity and IoT applications, Kepware for industrial automation connectivity, and Vuforia for augmented reality solutions.

Founded in 1985, PTC serves customers globally across industries such as automotive, aerospace and defense, industrial equipment, electronics, and life sciences.