8,455 Shares in PTC Inc. (NASDAQ:PTC) Purchased by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. purchased a new position in shares of PTC Inc. (NASDAQ:PTC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,455 shares of the technology company’s stock, valued at approximately $1,555,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in 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 acquiring an additional 133,370 shares during the last quarter. Geode Capital Management LLC boosted its stake in PTC by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock valued at $533,341,000 after acquiring an additional 37,645 shares during the last quarter. Fernbridge Capital Management LP boosted its stake in PTC by 83.7% in the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after acquiring an additional 650,990 shares during the last quarter. Franklin Resources Inc. boosted its stake in PTC by 2.9% in the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after acquiring an additional 30,525 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in PTC by 19.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after acquiring an additional 150,652 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday. Stifel Nicolaus boosted their price target on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price target on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Finally, Citigroup lowered their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Price Performance

Shares of NASDAQ:PTC opened at $160.02 on Wednesday. The company’s fifty day moving average price is $173.77 and its 200-day moving average price is $181.60. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of 49.39, a PEG ratio of 2.27 and a beta of 1.22. PTC Inc. has a one year low of $151.80 and a one year high of $203.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69.

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

PTC 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.