Kornitzer Capital Management Inc. KS acquired a new position in shares of PTC Inc. (NASDAQ:PTC - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,000 shares of the technology company's stock, valued at approximately $1,626,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in PTC by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company's stock valued at $2,596,209,000 after buying an additional 205,673 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of PTC by 4.4% in the second quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company's stock worth $206,091,000 after acquiring an additional 48,553 shares during the last quarter. Liontrust Investment Partners LLP increased its position in shares of PTC by 1.0% during the second quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company's stock worth $182,383,000 after purchasing an additional 10,338 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of PTC by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 875,282 shares of the technology company's stock worth $165,377,000 after purchasing an additional 40,462 shares in the last quarter. Finally, Fernbridge Capital Management LP raised its stake in PTC by 6.3% in the 2nd quarter. Fernbridge Capital Management LP now owns 778,015 shares of the technology company's stock valued at $141,342,000 after purchasing an additional 46,286 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on PTC shares. Berenberg Bank lowered shares of PTC from a "buy" rating to a "hold" rating and dropped their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Rosenblatt Securities reiterated a "buy" rating and issued a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Robert W. Baird boosted their target price on PTC from $226.00 to $228.00 and gave the stock an "outperform" rating in a report on Thursday. Royal Bank of Canada upped their price target on PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, StockNews.com upgraded PTC from a "hold" rating to a "buy" rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $204.83.
Get Our Latest Analysis on PTC
In related news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the transaction, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.17% of the company's stock.
NASDAQ:PTC opened at $192.83 on Friday. PTC Inc. has a 52 week low of $148.01 and a 52 week high of $199.48. The stock's fifty day moving average is $180.03 and its two-hundred day moving average is $178.31. The stock has a market capitalization of $23.17 billion, a price-to-earnings ratio of 62.00, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.
PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results on Wednesday, November 6th. The technology company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.11. PTC had a return on equity of 14.99% and a net margin of 16.37%. The firm had revenue of $626.55 million for the quarter, compared to analyst estimates of $620.49 million. Research analysts anticipate that PTC Inc. will post 4.47 EPS for the current year.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider PTC, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PTC wasn't on the list.
While PTC currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.