New Mexico Educational Retirement Board Acquires New Stake in PTC Inc (PTC)

New Mexico Educational Retirement Board acquired a new stake in PTC Inc (NASDAQ:PTC) during the fourth quarter, HoldingsChannel reports. The fund acquired 28,600 shares of the technology company’s stock, valued at approximately $1,738,000.

Several other large investors have also recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its holdings in shares of PTC by 85.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,013 shares of the technology company’s stock valued at $165,000 after buying an additional 1,389 shares in the last quarter. Ark Investment Management LLC boosted its holdings in shares of PTC by 83.5% in the 2nd quarter. Ark Investment Management LLC now owns 19,301 shares of the technology company’s stock valued at $1,064,000 after buying an additional 8,782 shares in the last quarter. Advisor Group Inc. boosted its holdings in shares of PTC by 7.4% in the 2nd quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock valued at $150,000 after buying an additional 186 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of PTC by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 169,615 shares of the technology company’s stock valued at $9,349,000 after buying an additional 2,573 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of PTC by 179.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 149,088 shares of the technology company’s stock valued at $8,218,000 after buying an additional 95,795 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.

Several research analysts have recently issued reports on PTC shares. BidaskClub upgraded shares of PTC from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 25th. Evercore ISI set a $75.00 target price on shares of PTC and gave the company a “buy” rating in a report on Thursday, October 26th. KeyCorp restated a “buy” rating and issued a $74.00 target price (up previously from $64.00) on shares of PTC in a report on Thursday, October 26th. Barclays upped their target price on shares of PTC from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $74.00 target price on shares of PTC in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $70.81.

Shares of PTC Inc (PTC) opened at $73.28 on Monday. The firm has a market cap of $8,521.29, a price-to-earnings ratio of 293.12, a P/E/G ratio of 2.62 and a beta of 1.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.03 and a current ratio of 1.02. PTC Inc has a 52 week low of $50.68 and a 52 week high of $74.88.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, January 17th. The technology company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The firm had revenue of $306.44 million during the quarter, compared to analysts’ expectations of $300.17 million. PTC had a net margin of 2.47% and a return on equity of 9.29%. PTC’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS. analysts forecast that PTC Inc will post 0.78 earnings per share for the current year.

In other PTC news, EVP Anthony Dibona sold 5,464 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $73.97, for a total transaction of $404,172.08. Following the completion of the transaction, the executive vice president now owns 36,317 shares in the company, valued at approximately $2,686,368.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James E. Heppelmann sold 25,000 shares of the company’s stock in a transaction 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. In the last 90 days, insiders have sold 41,393 shares of company stock valued at $2,925,789. 1.19% of the stock is owned by insiders.

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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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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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