700,779 Shares in PTC Inc. (NASDAQ:PTC) Bought by Norges Bank

Norges Bank acquired a new stake in shares of PTC Inc. (NASDAQ:PTC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 700,779 shares of the technology company’s stock, valued at approximately $128,852,000.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in PTC during the 4th quarter valued at about $146,712,000. Vanguard Group Inc. increased its stake in shares of PTC by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock valued at $2,627,961,000 after purchasing an additional 240,080 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after purchasing an additional 135,677 shares during the last quarter. State Street Corp boosted its position in shares of PTC by 2.7% in the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after purchasing an additional 133,370 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of PTC in the 3rd quarter worth approximately $20,636,000. Institutional investors own 95.14% of the company’s stock.

Analysts Set New Price Targets

PTC has been the subject of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $204.00 price objective on shares of PTC in a research note on Tuesday, February 4th. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. KeyCorp lifted their target price on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. increased their price target on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Finally, Stifel Nicolaus boosted their price objective on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Trading Up 0.1 %

NASDAQ:PTC opened at $154.95 on Tuesday. The company has a market cap of $18.64 billion, a PE ratio of 47.82, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The company has a 50 day simple moving average of $169.18 and a two-hundred day simple moving average of $180.94. PTC Inc. has a 12 month low of $151.80 and a 12 month high of $203.09.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 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%. Research analysts forecast that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Activity

In other 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 transaction of $96,739.66. Following the completion of the sale, the director now owns 7,604 shares of the company’s stock, valued at $1,182,650.12. The trade was a 7.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.32% 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.