PTC Inc. (NASDAQ:PTC) Shares Bought by abrdn plc

abrdn plc raised its position in PTC Inc. (NASDAQ:PTC) by 29.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 112,359 shares of the technology company’s stock after buying an additional 25,817 shares during the quarter. abrdn plc owned about 0.09% of PTC worth $19,658,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Legacy Financial Group LLC purchased a new stake in shares of PTC during the 3rd quarter worth $28,000. Resources Management Corp CT ADV boosted its position in shares of PTC by 4,285.7% during the 3rd quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock worth $43,000 after purchasing an additional 300 shares in the last quarter. CWM LLC boosted its position in shares of PTC by 6.9% during the 3rd quarter. CWM LLC now owns 1,155 shares of the technology company’s stock worth $164,000 after purchasing an additional 75 shares in the last quarter. Delta Capital Management LLC purchased a new stake in shares of PTC during the 4th quarter worth $205,000. Finally, Lincoln National Corp purchased a new stake in shares of PTC during the 3rd quarter worth $207,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PTC

In other news, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the transaction, the chief executive officer now owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were 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 of the company’s stock, valued at approximately $2,489,835.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the transaction, the chief executive officer now directly owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,415 shares of company stock valued at $6,457,478. 1.17% of the stock is owned by insiders.

PTC Trading Up 1.1 %

Shares of PTC stock opened at $180.44 on Wednesday. The firm has a 50-day moving average price of $183.54 and a 200 day moving average price of $169.62. PTC Inc. has a twelve month low of $120.62 and a twelve month high of $194.24. The company has a market capitalization of $21.57 billion, a price-to-earnings ratio of 91.59, a PEG ratio of 3.19 and a beta of 1.17. 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 announced its earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. PTC had a net margin of 10.86% and a return on equity of 12.87%. The firm had revenue of $550.21 million during the quarter, compared to the consensus estimate of $538.59 million. Research analysts forecast that PTC Inc. will post 3.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PTC shares. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 price objective on shares of PTC in a research report on Thursday, February 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price objective on shares of PTC in a research report on Friday, April 12th. JPMorgan Chase & Co. upgraded shares of PTC from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $130.00 to $200.00 in a research report on Thursday, January 4th. Finally, Oppenheimer boosted their price objective 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. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $196.73.

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.