abrdn plc Increases Position in PTC Inc. (NASDAQ:PTC)

abrdn plc increased its position in shares of PTC Inc. (NASDAQ:PTCFree Report) by 7.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,542 shares of the technology company’s stock after purchasing an additional 5,672 shares during the period. abrdn plc owned 0.07% of PTC worth $12,261,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PTC. BlackRock Inc. raised its holdings in PTC by 13.3% during the second quarter. BlackRock Inc. now owns 10,145,455 shares of the technology company’s stock valued at $1,443,698,000 after acquiring an additional 1,189,025 shares during the period. Kinetic Partners Management LP purchased a new position in PTC in the 2nd quarter worth approximately $72,236,000. Norges Bank bought a new position in PTC in the 4th quarter worth approximately $48,590,000. Select Equity Group L.P. purchased a new stake in PTC during the 1st quarter valued at approximately $43,148,000. Finally, Jennison Associates LLC purchased a new stake in PTC during the 3rd quarter valued at approximately $39,054,000. Hedge funds and other institutional investors own 92.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $202.00 target price on shares of PTC in a research report on Thursday. Robert W. Baird increased their price objective on shares of PTC from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Mizuho lifted their price objective on PTC from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets upped their target price on shares of PTC from $195.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Rosenblatt Securities increased their price target on PTC from $166.00 to $195.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.00.

Read Our Latest Report on PTC

PTC Stock Performance

PTC stock opened at $179.40 on Friday. PTC Inc. has a fifty-two week low of $115.44 and a fifty-two week high of $185.07. The company has a market capitalization of $21.38 billion, a PE ratio of 91.07, a P/E/G ratio of 3.26 and a beta of 1.19. The company has a 50 day moving average price of $169.75 and a 200-day moving average price of $153.04. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.76.

PTC (NASDAQ:PTCGet Free Report) last issued its earnings results on Wednesday, November 1st. The technology company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.08). The firm had revenue of $546.62 million during the quarter, compared to analysts’ expectations of $559.34 million. PTC had a return on equity of 13.13% and a net margin of 10.86%. As a group, equities analysts forecast that PTC Inc. will post 3.43 earnings per share for the current year.

Insider Activity at PTC

In other PTC news, CFO Kristian Talvitie sold 20,652 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $156.87, for a total transaction of $3,239,679.24. Following the transaction, the chief financial officer now directly owns 48,716 shares in the company, valued at approximately $7,642,078.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Kristian Talvitie sold 20,652 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $156.87, for a total value of $3,239,679.24. Following the completion of the transaction, the chief financial officer now owns 48,716 shares of the company’s stock, valued at $7,642,078.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Catherine Kniker sold 1,477 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $154.82, for a total value of $228,669.14. Following the sale, the insider now directly owns 15,194 shares in the company, valued at approximately $2,352,335.08. The disclosure for this sale can be found here. Insiders sold 37,435 shares of company stock worth $5,898,868 over the last three months. 1.17% of the stock is owned by corporate insiders.

About PTC

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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