Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in PTC Inc. (NASDAQ:PTC)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in PTC Inc. by 8.8% in the first quarter, owning 230,315 shares worth approximately $35.69 million.
• Institutional investors and hedge funds collectively own 95.14% of PTC's stock, indicating strong institutional interest.
• PTC reported a quarterly revenue of $643.94 million, significantly exceeding analysts' expectations, with a net margin of 20.74%.

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 8.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 230,315 shares of the technology company's stock after purchasing an additional 18,537 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of PTC worth $35,687,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in PTC by 14.6% in the fourth quarter. LPL Financial LLC now owns 17,914 shares of the technology company's stock worth $3,294,000 after purchasing an additional 2,285 shares during the period. Martingale Asset Management L P bought a new stake in PTC during the 4th quarter valued at about $1,164,000. Treasurer of the State of North Carolina increased its stake in PTC by 1.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 78,776 shares of the technology company's stock valued at $14,485,000 after purchasing an additional 1,092 shares in the last quarter. Townsquare Capital LLC increased its stake in PTC by 4.2% during the 4th quarter. Townsquare Capital LLC now owns 36,854 shares of the technology company's stock valued at $6,776,000 after purchasing an additional 1,471 shares in the last quarter. Finally, Mariner LLC increased its stake in PTC by 3.7% during the 4th quarter. Mariner LLC now owns 12,748 shares of the technology company's stock valued at $2,344,000 after purchasing an additional 450 shares in the last quarter. Institutional investors own 95.14% of the company's stock.

PTC Trading Up 0.1%

NASDAQ PTC traded up $0.22 during trading on Thursday, hitting $208.59. The stock had a trading volume of 261,819 shares, compared to its average volume of 1,071,649. The firm has a 50 day moving average price of $187.84 and a 200 day moving average price of $171.08. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $24.99 billion, a PE ratio of 49.15, a PEG ratio of 2.17 and a beta of 1.17. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $219.69.

PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.42. The firm had revenue of $643.94 million during the quarter, compared to analysts' expectations of $582.12 million. PTC had a return on equity of 17.09% and a net margin of 20.74%. The firm's revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 earnings per share. As a group, equities research analysts forecast that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Buying and Selling at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $216.29, for a total value of $429,984.52. Following the completion of the sale, the executive vice president directly owned 15,743 shares of the company's stock, valued at approximately $3,405,053.47. This represents a 11.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PTC. Oppenheimer raised their price target on shares of PTC from $225.00 to $240.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Rosenblatt Securities restated a "buy" rating and issued a $204.00 price target on shares of PTC in a report on Tuesday, July 29th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of PTC in a research note on Tuesday, July 29th. Piper Sandler increased their price target on shares of PTC from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen raised shares of PTC from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $202.14.

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.