Sumitomo Mitsui Trust Group Inc. Purchases 22,586 Shares of PTC Inc. (NASDAQ:PTC)

Sumitomo Mitsui Trust Group Inc. boosted its position in PTC Inc. (NASDAQ:PTC) by 2.9% during the 4th quarter, Holdings Channel reports. The fund owned 805,663 shares of the technology company’s stock after buying an additional 22,586 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in PTC were worth $148,137,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd raised its position in shares of PTC by 70.8% during the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after purchasing an additional 80 shares during the period. Brooklyn Investment Group acquired a new position in PTC during the third quarter worth $66,000. Blue Trust Inc. lifted its stake in shares of PTC by 473.9% in the third quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock valued at $144,000 after buying an additional 654 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of PTC during the third quarter valued at about $152,000. Finally, Signaturefd LLC increased its position in shares of PTC by 9.3% during the third quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock worth $162,000 after acquiring an additional 76 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kristian Talvitie sold 10,306 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the completion of the transaction, the chief financial officer now directly owns 57,134 shares of the company’s stock, valued at $11,389,091.56. This trade represents a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Staats Aaron C. Von sold 5,373 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares in the company, valued at approximately $4,344,221.91. The trade was a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,242 shares of company stock valued at $3,630,716 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on PTC shares. Piper Sandler raised their price target on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. KeyCorp lifted their target price on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday. Rosenblatt Securities reissued a “buy” rating and issued a $204.00 price target on shares of PTC in a research report on Tuesday. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and dropped their price objective for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, PTC presently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

PTC Price Performance

PTC opened at $169.02 on Friday. PTC Inc. has a fifty-two week low of $163.30 and a fifty-two week high of $203.09. The firm has a 50-day moving average of $189.94 and a 200 day moving average of $183.65. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $20.34 billion, a P/E ratio of 54.35, a PEG ratio of 2.62 and a beta of 1.19.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.37% and a return on equity of 14.63%. On average, research analysts expect that PTC Inc. will post 4.62 EPS for the current year.

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.