Daiwa Securities Group Inc. Boosts Holdings in PTC Inc. (NASDAQ:PTC)

Daiwa Securities Group Inc. grew its stake in shares of PTC Inc. (NASDAQ:PTC) by 74.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,770 shares of the technology company’s stock after purchasing an additional 11,835 shares during the period. Daiwa Securities Group Inc.’s holdings in PTC were worth $4,859,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Metis Global Partners LLC boosted its position in PTC by 24.4% during the 3rd quarter. Metis Global Partners LLC now owns 5,783 shares of the technology company’s stock valued at $819,000 after acquiring an additional 1,133 shares in the last quarter. Silverberg Bernstein Capital Management LLC bought a new stake in shares of PTC during the fourth quarter valued at approximately $9,647,000. Ballentine Partners LLC grew its stake in PTC by 786.0% in the fourth quarter. Ballentine Partners LLC now owns 15,336 shares of the technology company’s stock worth $2,683,000 after purchasing an additional 13,605 shares during the period. Wellington Management Group LLP raised its holdings in PTC by 153.9% in the third quarter. Wellington Management Group LLP now owns 111,340 shares of the technology company’s stock worth $15,775,000 after purchasing an additional 67,493 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in PTC by 3.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 788,746 shares of the technology company’s stock valued at $137,999,000 after buying an additional 23,716 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Transactions at PTC

In related news, insider Catherine Kniker sold 1,330 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $179.59, for a total transaction of $238,854.70. Following the transaction, the insider now owns 13,864 shares in the company, valued at $2,489,835.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PTC news, CEO James E. Heppelmann sold 35,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the sale, the chief executive officer now directly owns 968,357 shares in the company, valued at approximately $171,631,594.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Catherine Kniker sold 1,330 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the transaction, the insider now owns 13,864 shares in the company, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. Insiders sold 36,415 shares of company stock worth $6,457,478 over the last three months. 1.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Oppenheimer upped their target price on shares of PTC from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. KeyCorp upped their price objective on shares of PTC from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Thursday. Mizuho boosted their price target on PTC from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Barclays raised their price objective on PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, PTC presently has an average rating of “Moderate Buy” and an average target price of $196.73.

PTC Stock Performance

Shares of PTC opened at $176.37 on Friday. The company has a market cap of $21.09 billion, a price-to-earnings ratio of 89.53, a P/E/G ratio of 3.14 and a beta of 1.17. The business’s fifty day simple moving average is $183.49 and its two-hundred day simple moving average is $168.64. PTC Inc. has a 12 month low of $120.62 and a 12 month high of $194.24. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.80.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. PTC had a return on equity of 12.87% and a net margin of 10.86%. The company had revenue of $550.21 million for the quarter, compared to analysts’ expectations of $538.59 million. Research analysts anticipate that PTC Inc. will post 3.47 earnings per share for the current fiscal year.

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.