DnB Asset Management AS Increases Position in PTC Inc. (NASDAQ:PTC)

DnB Asset Management AS increased its stake in shares of PTC Inc. (NASDAQ:PTC) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,239 shares of the technology company’s stock after purchasing an additional 358 shares during the quarter. DnB Asset Management AS’s holdings in PTC were worth $3,721,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. Assetmark Inc. raised its stake in shares of PTC by 825.0% during the 4th quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock worth $61,000 after acquiring an additional 297 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in PTC during the fourth quarter valued at approximately $77,000. Smartleaf Asset Management LLC boosted its stake in PTC by 83.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock valued at $83,000 after acquiring an additional 205 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new position in PTC in the fourth quarter worth $84,000. Institutional investors own 95.14% of the company’s stock.

Insider Transactions at PTC

In related news, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the transaction, the director now directly owns 7,604 shares in the company, valued at $1,182,650.12. The trade was a 7.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.

PTC Stock Performance

PTC 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. PTC Inc. has a 12-month low of $151.80 and a 12-month high of $203.09. The firm has a 50 day moving average of $169.18 and a two-hundred day moving average of $180.94. The firm has a market capitalization of $18.64 billion, a PE ratio of 47.82, a P/E/G ratio of 2.27 and a beta of 1.22.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. On average, analysts anticipate that PTC Inc. will post 4.46 EPS for the current year.

Analyst Ratings Changes

PTC has been the subject of several analyst reports. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 price target on shares of PTC in a research note on Tuesday, February 4th. KeyCorp boosted their price target on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Citigroup decreased their price objective on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus boosted their target price on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Five investment 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

PTC 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.