abrdn plc Has $19.66 Million Stock Position in PTC Inc. (NASDAQ:PTC)

abrdn plc lifted its stake in PTC Inc. (NASDAQ:PTC) by 29.8% in the fourth quarter, HoldingsChannel reports. The firm owned 112,359 shares of the technology company’s stock after purchasing an additional 25,817 shares during the period. abrdn plc’s holdings in PTC were worth $19,658,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PTC. CWM LLC boosted its position in PTC by 6.9% during the 3rd quarter. CWM LLC now owns 1,155 shares of the technology company’s stock worth $164,000 after acquiring an additional 75 shares during the period. Hartford Investment Management Co. boosted its position in PTC by 6.8% during the 3rd quarter. Hartford Investment Management Co. now owns 8,048 shares of the technology company’s stock worth $1,140,000 after acquiring an additional 510 shares during the period. Avior Wealth Management LLC boosted its position in PTC by 3.2% during the 3rd quarter. Avior Wealth Management LLC now owns 2,881 shares of the technology company’s stock worth $408,000 after acquiring an additional 90 shares during the period. DeDora Capital Inc. boosted its position in PTC by 64.3% during the 3rd quarter. DeDora Capital Inc. now owns 2,773 shares of the technology company’s stock worth $393,000 after acquiring an additional 1,085 shares during the period. Finally, Oak Thistle LLC boosted its position in PTC by 452.3% during the 3rd quarter. Oak Thistle LLC now owns 10,460 shares of the technology company’s stock worth $1,482,000 after acquiring an additional 8,566 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Stock Up 1.1 %

Shares of PTC stock opened at $180.44 on Wednesday. The stock’s 50 day simple moving average is $183.54 and its 200 day simple moving average is $169.62. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.19 and a current ratio of 1.19. PTC Inc. has a twelve month low of $120.62 and a twelve month high of $194.24. The company has a market capitalization of $21.57 billion, a price-to-earnings ratio of 91.59, a PEG ratio of 3.19 and a beta of 1.17.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PTC shares. BMO Capital Markets raised their price objective on PTC from $195.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Oppenheimer raised their price objective on PTC from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price target on shares of PTC in a research note on Friday, April 12th. Finally, Mizuho raised their price target on PTC from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, PTC has an average rating of “Moderate Buy” and a consensus target price of $196.73.

Insider Activity at PTC

In related news, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PTC news, CEO James E. Heppelmann sold 35,000 shares of PTC stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the transaction, 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 document filed with the SEC, which is accessible through this link. Also, insider Catherine Kniker sold 1,330 shares of PTC stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $179.59, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,415 shares of company stock valued at $6,457,478. Corporate 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.