Flputnam Investment Management Co. Grows Stock Position in PTC Inc. (NASDAQ:PTC)

Flputnam Investment Management Co. increased its holdings in PTC Inc. (NASDAQ:PTC) by 1.3% in the 4th quarter, HoldingsChannel reports. The fund owned 64,586 shares of the technology company’s stock after purchasing an additional 809 shares during the quarter. Flputnam Investment Management Co.’s holdings in PTC were worth $11,875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of PTC by 8.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,238 shares of the technology company’s stock valued at $1,127,000 after purchasing an additional 493 shares during the last quarter. International Assets Investment Management LLC raised its holdings in PTC by 786.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,445 shares of the technology company’s stock valued at $261,000 after buying an additional 1,282 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in PTC by 35.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,438 shares of the technology company’s stock valued at $1,537,000 after buying an additional 2,216 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in PTC by 0.4% during the third quarter. Nisa Investment Advisors LLC now owns 24,687 shares of the technology company’s stock worth $4,460,000 after buying an additional 100 shares during the period. Finally, abrdn plc increased its position in shares of PTC by 14.7% during the third quarter. abrdn plc now owns 119,042 shares of the technology company’s stock valued at $21,559,000 after acquiring an additional 15,239 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Transactions at PTC

In other news, CFO Kristian Talvitie sold 10,306 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the sale, the chief financial officer now owns 57,134 shares of the company’s stock, valued at approximately $11,389,091.56. This trade represents a 15.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the transaction, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at $4,344,221.91. This trade represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

PTC Price Performance

PTC stock opened at $163.63 on Friday. The business’s 50-day moving average is $179.98 and its two-hundred day moving average is $182.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $19.69 billion, a P/E ratio of 50.50, a P/E/G ratio of 2.27 and a beta of 1.19. PTC Inc. has a 1 year low of $160.53 and a 1 year high of $203.09.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

PTC has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Rosenblatt Securities restated a “buy” rating and set a $204.00 price target on shares of PTC in a research note on Tuesday, February 4th. KeyCorp lifted their price objective on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Stifel Nicolaus increased their target price on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a research report on Saturday. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

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.