2Xideas AG Has $51.61 Million Stake in PTC Inc. (NASDAQ:PTC)

2Xideas AG raised its holdings in PTC Inc. (NASDAQ:PTC) by 17.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 280,711 shares of the technology company’s stock after buying an additional 41,064 shares during the quarter. PTC makes up about 6.9% of 2Xideas AG’s holdings, making the stock its 2nd largest position. 2Xideas AG’s holdings in PTC were worth $51,614,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in PTC during the fourth quarter worth $146,712,000. Norges Bank bought a new stake in shares of PTC during the 4th quarter worth $128,852,000. Vanguard Group Inc. boosted its holdings in shares of PTC by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock worth $2,627,961,000 after buying an additional 240,080 shares during the last quarter. JPMorgan Chase & Co. grew its position in 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 buying an additional 135,677 shares during the period. Finally, State Street Corp raised its position in PTC by 2.7% in the third quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after acquiring an additional 133,370 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Rosenblatt Securities reissued a “buy” rating and issued a $204.00 target price on shares of PTC in a research report on Tuesday, February 4th. Citigroup dropped their price target on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Finally, KeyCorp boosted their price objective on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

Insider Buying and Selling at PTC

In related news, Director Corinna Lathan sold 622 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the sale, the director now directly owns 7,604 shares of the company’s stock, valued at $1,182,650.12. This trade represents a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.32% of the company’s stock.

PTC Price Performance

Shares of NASDAQ:PTC opened at $139.77 on Friday. PTC Inc. has a 12 month low of $139.66 and a 12 month high of $203.09. 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 stock has a market cap of $16.82 billion, a P/E ratio of 43.14, a P/E/G ratio of 2.27 and a beta of 1.22. The company has a 50 day moving average of $166.16 and a 200 day moving average of $180.24.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share 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%. As a group, sell-side analysts forecast that PTC Inc. will post 4.46 EPS for the current fiscal year.

About PTC

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.