PTC Inc. (NASDAQ:PTC) is Fernbridge Capital Management LP’s Largest Position

Fernbridge Capital Management LP increased its holdings in shares of PTC Inc. (NASDAQ:PTC) by 47.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 964,649 shares of the technology company’s stock after buying an additional 310,143 shares during the period. PTC comprises 13.9% of Fernbridge Capital Management LP’s investment portfolio, making the stock its largest holding. Fernbridge Capital Management LP owned approximately 0.82% of PTC worth $123,697,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Pictet Asset Management SA boosted its stake in shares of PTC by 10.7% in the 1st quarter. Pictet Asset Management SA now owns 4,892,360 shares of the technology company’s stock valued at $627,347,000 after buying an additional 471,437 shares during the period. State Street Corp grew its holdings in PTC by 0.8% during the 3rd quarter. State Street Corp now owns 4,058,371 shares of the technology company’s stock worth $424,506,000 after acquiring an additional 31,252 shares in the last quarter. Select Equity Group L.P. increased its position in shares of PTC by 5.7% in the 4th quarter. Select Equity Group L.P. now owns 3,504,626 shares of the technology company’s stock valued at $420,695,000 after purchasing an additional 190,348 shares during the last quarter. Invesco Ltd. increased its position in shares of PTC by 1.6% in the 1st quarter. Invesco Ltd. now owns 2,576,733 shares of the technology company’s stock valued at $277,566,000 after purchasing an additional 41,474 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of PTC by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 2,267,409 shares of the technology company’s stock valued at $271,723,000 after purchasing an additional 88,604 shares in the last quarter. 92.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Michael Ditullio sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $143.47, for a total value of $430,410.00. Following the completion of the sale, the chief operating officer now owns 60,674 shares in the company, valued at $8,704,898.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other PTC news, COO Michael Ditullio sold 3,000 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $143.47, for a total value of $430,410.00. Following the completion of the sale, the chief operating officer now owns 60,674 shares of the company’s stock, valued at $8,704,898.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Paul A. Lacy sold 2,500 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $150.48, for a total transaction of $376,200.00. Following the sale, the director now owns 19,136 shares in the company, valued at $2,879,585.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,800 shares of company stock worth $1,282,040. 8.26% of the stock is owned by insiders.

PTC Stock Performance

NASDAQ:PTC traded down $1.25 during trading hours on Friday, reaching $143.64. 387,263 shares of the company’s stock were exchanged, compared to its average volume of 580,677. PTC Inc. has a 1-year low of $101.82 and a 1-year high of $152.09. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $17.07 billion, a price-to-earnings ratio of 55.89, a P/E/G ratio of 3.85 and a beta of 1.18. The company has a 50-day moving average of $143.62 and a 200 day moving average of $134.47.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, July 26th. The technology company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.04). PTC had a return on equity of 15.41% and a net margin of 14.90%. The business had revenue of $542.34 million for the quarter, compared to analyst estimates of $530.35 million. Research analysts anticipate that PTC Inc. will post 2.94 EPS for the current year.

Analysts Set New Price Targets

PTC has been the topic of several recent analyst reports. Royal Bank of Canada increased their target price on PTC from $158.00 to $165.00 and gave the company an “outperform” rating in a report on Monday, July 24th. StockNews.com began coverage on PTC in a research note on Thursday, August 17th. They set a “hold” rating for the company. Rosenblatt Securities increased their price target on shares of PTC from $148.00 to $159.00 in a research note on Thursday, July 27th. BMO Capital Markets started coverage on shares of PTC in a report on Wednesday, May 24th. They set an “outperform” rating and a $166.00 price objective on the stock. Finally, Robert W. Baird upped their target price on shares of PTC from $168.00 to $173.00 in a report on Monday, July 17th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $160.92.

PTC Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers end-to-end capabilities to enable digital transformation; and Vuforia, which enables the creation of AR.