Daiwa Securities Group Inc. Acquires 11,835 Shares of PTC Inc. (NASDAQ:PTC)

Daiwa Securities Group Inc. boosted its holdings in shares of PTC Inc. (NASDAQ:PTC) by 74.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 27,770 shares of the technology company’s stock after buying an additional 11,835 shares during the quarter. Daiwa Securities Group Inc.’s holdings in PTC were worth $4,859,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PTC. Metis Global Partners LLC raised its position in shares of PTC by 24.4% in the 3rd quarter. Metis Global Partners LLC now owns 5,783 shares of the technology company’s stock valued at $819,000 after purchasing an additional 1,133 shares during the last quarter. Silverberg Bernstein Capital Management LLC purchased a new position in shares of PTC in the fourth quarter worth $9,647,000. Ballentine Partners LLC lifted its stake in shares of PTC by 786.0% during the fourth quarter. Ballentine Partners LLC now owns 15,336 shares of the technology company’s stock worth $2,683,000 after buying an additional 13,605 shares during the period. Wellington Management Group LLP grew its holdings in shares of PTC by 153.9% during the third quarter. Wellington Management Group LLP now owns 111,340 shares of the technology company’s stock valued at $15,775,000 after buying an additional 67,493 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in PTC by 3.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 788,746 shares of the technology company’s stock worth $137,999,000 after acquiring an additional 23,716 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Trading Up 0.4 %

Shares of PTC opened at $176.37 on Friday. PTC Inc. has a 12-month low of $120.62 and a 12-month high of $194.24. The firm has a market capitalization of $21.09 billion, a P/E ratio of 89.53, a P/E/G ratio of 3.14 and a beta of 1.17. The firm has a 50-day moving average price of $183.49 and a 200 day moving average price of $168.64. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.80.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. PTC had a net margin of 10.86% and a return on equity of 12.87%. The business had revenue of $550.21 million during the quarter, compared to analysts’ expectations of $538.59 million. Sell-side analysts forecast that PTC Inc. will post 3.47 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Oppenheimer upped their target price on PTC from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Robert W. Baird reiterated an “outperform” rating and issued a $210.00 price objective on shares of PTC in a research note on Tuesday, April 2nd. KeyCorp upped their price objective on PTC from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $202.00 target price on shares of PTC in a report on Thursday, February 1st. Finally, Piper Sandler increased their price target on shares of PTC from $155.00 to $177.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $196.73.

Insider Activity

In related news, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the sale, the chief executive officer now directly owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Catherine Kniker sold 1,330 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the transaction, the insider now directly owns 13,864 shares in the company, valued at $2,489,835.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James E. Heppelmann sold 35,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the sale, the chief executive officer now owns 968,357 shares in the company, valued at approximately $171,631,594.68. The disclosure for this sale can be found here. Insiders have sold a total of 36,415 shares of company stock valued at $6,457,478 in the last quarter. Insiders own 1.17% of the company’s stock.

PTC Company 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.