700,779 Shares in PTC Inc. (NASDAQ:PTC) Acquired by Norges Bank

Norges Bank purchased a new stake in PTC Inc. (NASDAQ:PTC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 700,779 shares of the technology company’s stock, valued at approximately $128,852,000. Norges Bank owned 0.58% of PTC at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PTC. Cerity Partners LLC increased its position in shares of PTC by 51.3% in the third quarter. Cerity Partners LLC now owns 5,768 shares of the technology company’s stock worth $1,042,000 after purchasing an additional 1,955 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of PTC in the 3rd quarter worth $152,000. Public Sector Pension Investment Board raised its position in shares of PTC by 12.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,274 shares of the technology company’s stock valued at $953,000 after buying an additional 600 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of PTC by 125.8% during the 3rd quarter. Edgestream Partners L.P. now owns 17,409 shares of the technology company’s stock worth $3,145,000 after acquiring an additional 9,698 shares during the last quarter. Finally, Cinctive Capital Management LP grew its position in PTC by 30.0% in the third quarter. Cinctive Capital Management LP now owns 2,600 shares of the technology company’s stock worth $470,000 after acquiring an additional 600 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Price Performance

PTC stock opened at $154.95 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $169.18 and its two-hundred day moving average price is $180.94. The stock has a market capitalization of $18.64 billion, a price-to-earnings ratio of 47.82, a PEG ratio of 2.27 and a beta of 1.22. PTC Inc. has a 12-month low of $151.80 and a 12-month 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%. As a group, equities analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on PTC. Citigroup lowered their price target on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. JPMorgan Chase & Co. boosted their target price on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Stifel Nicolaus increased 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. Rosenblatt Securities restated a “buy” rating and issued a $204.00 price objective on shares of PTC in a report on Tuesday, February 4th. Finally, KeyCorp increased their target price on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

Insider Activity at PTC

In other news, Director Corinna Lathan sold 622 shares of PTC 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 sale, the director now owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by corporate insiders.

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.