DnB Asset Management AS Grows Position in PTC Inc. (NASDAQ:PTC)

DnB Asset Management AS boosted its stake in shares of PTC Inc. (NASDAQ:PTC) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,239 shares of the technology company’s stock after acquiring an additional 358 shares during the period. DnB Asset Management AS’s holdings in PTC were worth $3,721,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares in the last quarter. Assetmark Inc. increased its position in PTC by 825.0% in the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock worth $61,000 after purchasing an additional 297 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in PTC during the fourth quarter valued at $77,000. Smartleaf Asset Management LLC lifted its position in PTC by 83.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock valued at $83,000 after purchasing an additional 205 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new position in shares of PTC in the 4th quarter worth $84,000. 95.14% of the stock is currently owned by institutional investors.

Insider Activity

In other PTC news, Director Corinna Lathan sold 622 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the transaction, the director now directly owns 7,604 shares in the company, valued at $1,182,650.12. This represents a 7.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on PTC shares. Citigroup lowered their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. KeyCorp raised 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 boosted their target price on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Rosenblatt Securities restated a “buy” rating and issued a $204.00 price target on shares of PTC in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. boosted their price objective 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. 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Price Performance

PTC stock opened at $154.95 on Tuesday. 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 stock has a market cap of $18.64 billion, a price-to-earnings ratio of 47.82, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The firm has a 50-day moving average of $169.18 and a two-hundred day moving average of $180.94. PTC Inc. has a 1 year low of $151.80 and a 1 year high of $203.09.

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

PTC Company 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.