Lansforsakringar Fondforvaltning AB publ Purchases Shares of 38,491 PTC Inc. (NASDAQ:PTC)

Lansforsakringar Fondforvaltning AB publ bought a new position in shares of PTC Inc. (NASDAQ:PTC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 38,491 shares of the technology company's stock, valued at approximately $7,077,000.

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in shares of PTC by 8.5% during the fourth quarter. Fifth Third Bancorp now owns 2,861 shares of the technology company's stock worth $526,000 after purchasing an additional 223 shares in the last quarter. Blue Trust Inc. lifted its position in shares of PTC by 44.3% during the fourth quarter. Blue Trust Inc. now owns 1,143 shares of the technology company's stock worth $206,000 after purchasing an additional 351 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of PTC during the fourth quarter worth about $451,000. Pacer Advisors Inc. lifted its position in shares of PTC by 70.7% during the fourth quarter. Pacer Advisors Inc. now owns 33,203 shares of the technology company's stock worth $6,105,000 after purchasing an additional 13,751 shares in the last quarter. Finally, BSW Wealth Partners lifted its position in shares of PTC by 7.0% during the fourth quarter. BSW Wealth Partners now owns 1,953 shares of the technology company's stock worth $359,000 after purchasing an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

PTC has been the topic of several research reports. Piper Sandler reduced their price target on shares of PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $204.00 target price on shares of PTC in a report on Thursday, May 1st. Citigroup reduced their target price on shares of PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $160.00 target price (down previously from $210.00) on shares of PTC in a report on Wednesday, April 9th. Finally, KeyCorp reduced their target price on shares of PTC from $211.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $187.15.

PTC Stock Up 0.1%

PTC stock traded up $0.16 during midday trading on Friday, reaching $168.09. 1,902,224 shares of the company were exchanged, compared to its average volume of 883,688. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $203.09. The stock's 50-day simple moving average is $156.76 and its 200 day simple moving average is $172.70. The company has a market cap of $20.16 billion, a price-to-earnings ratio of 51.88, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.42. The business had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. PTC had a net margin of 16.95% and a return on equity of 14.49%. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. On average, equities analysts forecast that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Activity at PTC

In other news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction on Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction of $96,739.66. Following the completion of the transaction, the director now owns 7,604 shares of the company's stock, valued at $1,182,650.12. The trade was a 7.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction on 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. This trade represents a 10.08% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

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.