Mirae Asset Global Investments Co. Ltd. Purchases New Holdings in PTC Inc. $PTC

Key Points

• Mirae Asset Global Investments opened a new position in PTC, buying 30,263 shares worth approximately $4.25 million in the third quarter. Institutional investors collectively own 95.14% of the company’s shares.
• PTC beat quarterly earnings and revenue estimates, reporting adjusted EPS of $2.03 and revenue of $673.25 million; however, revenue was down 24.7% year over year.
• Analysts are mostly cautious: 14 rate PTC a Hold and two rate it a Buy, with an average price target of $200.06.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of PTC Inc. (NASDAQ:PTC - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 30,263 shares of the technology company's stock, valued at approximately $4,246,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its position in shares of PTC by 10.2% during the 2nd quarter. State Street Corp now owns 6,452,323 shares of the technology company's stock valued at $733,048,000 after buying an additional 596,955 shares during the last quarter. Jupiter Topco LLC purchased a new stake in PTC in the 2nd quarter worth about $418,553,000. Janus Henderson Group PLC raised its stake in PTC by 0.3% in the 1st quarter. Janus Henderson Group PLC now owns 3,530,070 shares of the technology company's stock valued at $503,000,000 after acquiring an additional 11,278 shares during the period. Amundi raised its stake in PTC by 151.9% in the 1st quarter. Amundi now owns 1,725,555 shares of the technology company's stock valued at $245,885,000 after acquiring an additional 1,040,656 shares during the period. Finally, Legal & General Group Plc purchased a new stake in PTC during the second quarter valued at about $91,045,000. 95.14% of the stock is owned by institutional investors.

PTC Price Performance

NASDAQ PTC traded up $0.47 on Friday, hitting $195.07. The stock had a trading volume of 1,354,398 shares, compared to its average volume of 3,135,104. The firm has a 50-day moving average of $166.98 and a 200-day moving average of $148.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.03. PTC Inc. has a 52-week low of $108.50 and a 52-week high of $196.05. The company has a market capitalization of $21.17 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 2.55 and a beta of 0.93.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The technology company reported $2.03 EPS for the quarter, topping analysts' consensus estimates of $1.97 by $0.06. The firm had revenue of $673.25 million for the quarter, compared to analyst estimates of $663.56 million. PTC had a net margin of 41.67% and a return on equity of 25.31%. The business's revenue for the quarter was down 24.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.41 EPS. Equities analysts expect that PTC Inc. will post 7.12 EPS for the current year.

Insider Transactions at PTC

In other PTC news, Director Corinna Lathan sold 1,750 shares of the company's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $195.75, for a total value of $342,562.50. Following the completion of the transaction, the director directly owned 6,679 shares in the company, valued at approximately $1,307,414.25. This represents a 20.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PTC shares. Citigroup increased their target price on shares of PTC from $141.00 to $205.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 6th. Mizuho upped their price target on shares of PTC from $160.00 to $205.00 and gave the company a "neutral" rating in a research note on Tuesday, October 6th. Robert W. Baird lowered shares of PTC from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Stifel Nicolaus set a $205.00 target price on shares of PTC in a report on Monday, October 5th. Finally, Royal Bank Of Canada lowered PTC from a "buy" rating to a "sector perform" rating and raised their price target for the stock from $195.00 to $306.00 in a report on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $200.06.

PTC Company Profile

PTC Inc NASDAQ: PTC develops software that helps manufacturers and other industrial companies design, manage, and optimize products and production processes. Its portfolio supports computer-aided design, product lifecycle management, digital manufacturing, and industrial Internet of Things initiatives.

The company's products include Creo for 3D computer-aided design and engineering, Windchill for product lifecycle management, and Codebeamer for application lifecycle management. PTC also offers ThingWorx for industrial connectivity and IoT applications, Kepware for industrial automation connectivity, and Vuforia for augmented reality solutions.

Founded in 1985, PTC serves customers globally across industries such as automotive, aerospace and defense, industrial equipment, electronics, and life sciences.

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