PTC Inc. (NASDAQ:PTC) Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS increased its position in PTC Inc. (NASDAQ:PTC - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,400 shares of the technology company's stock after buying an additional 3,500 shares during the quarter. KLP Kapitalforvaltning AS's holdings in PTC were worth $6,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PTC. Wahed Invest LLC increased its stake in shares of PTC by 2.1% in the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock worth $539,000 after acquiring an additional 61 shares in the last quarter. D.A. Davidson & CO. lifted its position in PTC by 1.9% during the 1st quarter. D.A. Davidson & CO. now owns 3,755 shares of the technology company's stock valued at $582,000 after acquiring an additional 70 shares during the period. Portside Wealth Group LLC lifted its position in PTC by 2.4% during the 1st quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company's stock valued at $514,000 after acquiring an additional 78 shares during the period. Strategic Advisors LLC lifted its position in PTC by 1.1% during the 1st quarter. Strategic Advisors LLC now owns 7,729 shares of the technology company's stock valued at $1,198,000 after acquiring an additional 83 shares during the period. Finally, Dynasty Wealth Management LLC lifted its position in PTC by 5.8% during the 1st quarter. Dynasty Wealth Management LLC now owns 1,525 shares of the technology company's stock valued at $236,000 after acquiring an additional 83 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the sale, the executive vice president owned 17,731 shares of the company's stock, valued at $2,836,960. This trade represents 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. Corporate insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PTC. Oppenheimer boosted their price target on PTC from $210.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday. BMO Capital Markets boosted their price target on PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Mizuho dropped their price target on shares of PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Stifel Nicolaus dropped their price target on shares of PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Piper Sandler dropped their price target on shares of PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $194.08.

PTC Stock Down 0.4%

Shares of NASDAQ:PTC traded down $0.84 during trading on Monday, reaching $203.67. The stock had a trading volume of 126,110 shares, compared to its average volume of 1,072,650. PTC Inc. has a one year low of $133.38 and a one year high of $213.14. The company has a market capitalization of $24.43 billion, a P/E ratio of 56.01, a PEG ratio of 2.78 and a beta of 1.17. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.40. The firm's 50-day simple moving average is $177.60 and its 200 day simple moving average is $168.85.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.37 by $0.42. The firm had revenue of $636.37 million during the quarter, compared to analyst estimates of $608.64 million. PTC had a net margin of 18.77% and a return on equity of 15.35%. PTC's revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $1.46 EPS. As a group, research analysts expect 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.