Trust Point Inc. Acquires Shares of 2,260 PTC Inc. (NASDAQ:PTC)

Trust Point Inc. acquired a new stake in PTC Inc. (NASDAQ:PTC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,260 shares of the technology company’s stock, valued at approximately $416,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its position in shares of PTC by 2.7% in the third quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock valued at $917,088,000 after purchasing an additional 133,370 shares during the last quarter. Geode Capital Management LLC grew its position in PTC by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock worth $533,341,000 after buying an additional 37,645 shares in the last quarter. Fernbridge Capital Management LP grew its position in PTC by 83.7% during the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after buying an additional 650,990 shares in the last quarter. Franklin Resources Inc. grew its position in PTC by 2.9% during the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock worth $203,463,000 after buying an additional 30,525 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in PTC by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock worth $167,012,000 after buying an additional 150,652 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 price target on shares of PTC in a research note on Tuesday. Piper Sandler raised their price objective on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Stifel Nicolaus lifted their target price on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and cut their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Finally, StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, PTC presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.00.

PTC Stock Performance

PTC stock opened at $189.76 on Thursday. PTC Inc. has a 12-month low of $163.30 and a 12-month high of $203.09. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average of $190.67 and a 200-day moving average of $183.69. The firm has a market cap of $22.84 billion, a PE ratio of 61.02, a P/E/G ratio of 2.62 and a beta of 1.19.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.37% and a return on equity of 14.63%. As a group, sell-side analysts expect that PTC Inc. will post 4.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the transaction, the chief accounting officer now owns 830 shares of the company’s stock, valued at approximately $160,356. This represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the completion of the transaction, the executive vice president now directly owns 21,707 shares in the company, valued at approximately $4,344,221.91. The trade was a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,242 shares of company stock worth $3,630,716 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

About PTC

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.