Covea Finance Purchases 10,200 Shares of PTC Inc. (NASDAQ:PTC)

Covea Finance grew its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 66.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 25,500 shares of the technology company's stock after purchasing an additional 10,200 shares during the period. Covea Finance's holdings in PTC were worth $3,951,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PTC. Allworth Financial LP increased its stake in shares of PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company's stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of PTC by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 152,814 shares of the technology company's stock valued at $28,098,000 after purchasing an additional 3,743 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of PTC by 4.6% in the 4th quarter. CIBC Asset Management Inc now owns 18,290 shares of the technology company's stock valued at $3,363,000 after purchasing an additional 796 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of PTC by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 197,235 shares of the technology company's stock valued at $36,266,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC acquired a new stake in shares of PTC during the 4th quarter valued at $1,212,000. Institutional investors own 95.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reissued a "neutral" rating and set a $160.00 price objective (down previously from $210.00) on shares of PTC in a report on Wednesday, April 9th. Piper Sandler cut their price objective on PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. BMO Capital Markets raised their price objective on PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Wall Street Zen downgraded PTC from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Oppenheimer reissued a "cautious" rating on shares of PTC in a report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, PTC presently has a consensus rating of "Hold" and a consensus price target of $188.69.

PTC Trading Up 0.2%

PTC traded up $0.40 during midday trading on Friday, hitting $166.97. 1,617,047 shares of the company were exchanged, compared to its average volume of 888,144. The firm has a market capitalization of $20.03 billion, a P/E ratio of 45.87, a P/E/G ratio of 2.28 and a beta of 1.18. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $203.09. The firm's 50 day moving average price is $162.73 and its 200-day moving average price is $169.75. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.40.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.42. The company had revenue of $636.37 million for the quarter, compared to the consensus estimate of $608.64 million. PTC had a return on equity of 15.35% and a net margin of 18.77%. The firm's revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 EPS. As a group, equities analysts forecast that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insider Activity

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the transaction, the executive vice president now directly owns 17,731 shares of the company's stock, valued at $2,836,960. The trade was a 10.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is owned by company insiders.

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.