Sumitomo Life Insurance Co. cut its holdings in PTC Inc (NASDAQ:PTC) by 4.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 22,598 shares of the technology company’s stock after selling 1,097 shares during the period. Sumitomo Life Insurance Co.’s holdings in PTC were worth $1,373,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PTC by 49.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,323 shares of the technology company’s stock valued at $384,000 after purchasing an additional 2,087 shares during the period. Exane Derivatives acquired a new position in PTC during the 4th quarter valued at about $1,301,000. Hardman Johnston Global Advisors LLC acquired a new position in PTC during the 4th quarter valued at about $7,459,000. Campbell Newman Asset Management Inc. boosted its stake in PTC by 22.3% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 8,214 shares of the technology company’s stock valued at $499,000 after purchasing an additional 1,497 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in PTC by 6.0% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,153,130 shares of the technology company’s stock valued at $70,075,000 after purchasing an additional 65,260 shares during the period. 97.98% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on PTC shares. KeyCorp reissued a “buy” rating and set a $74.00 target price (up from $64.00) on shares of PTC in a research note on Thursday, October 26th. BidaskClub raised shares of PTC from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. Wedbush reissued an “outperform” rating and set a $69.00 target price on shares of PTC in a research note on Tuesday, November 14th. Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of PTC in a research note on Monday, February 5th. Finally, Royal Bank of Canada boosted their target price on shares of PTC to $80.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $70.81.
PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, January 17th. The technology company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. PTC had a net margin of 2.47% and a return on equity of 9.29%. The company had revenue of $306.44 million for the quarter, compared to the consensus estimate of $300.17 million. During the same period in the previous year, the firm earned $0.26 EPS. PTC’s revenue was up 7.0% on a year-over-year basis. sell-side analysts anticipate that PTC Inc will post 0.78 earnings per share for the current fiscal year.
In related news, EVP Anthony Dibona sold 5,464 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $73.97, for a total value of $404,172.08. Following the sale, the executive vice president now directly owns 36,317 shares in the company, valued at approximately $2,686,368.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James E. Heppelmann sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $72.34, for a total transaction of $1,808,500.00. The disclosure for this sale can be found here. Insiders sold a total of 81,260 shares of company stock worth $5,501,295 over the last quarter. Insiders own 1.19% of the company’s stock.
PTC Company Profile
PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.
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