Ontario Teachers Pension Plan Board Makes New Investment in PTC Inc. (NASDAQ:PTC)

Key Points

• The Ontario Teachers Pension Plan Board has acquired a new investment in PTC Inc., purchasing 3,356 shares valued at approximately $520,000.
• Institutional investors hold a significant share of PTC Inc., with 95.14% of the stock owned by such entities, indicating strong institutional confidence in the company.
• PTC reported strong earnings of $1.64 per share for the last quarter, exceeding analyst expectations and showing a 24.2% year-over-year revenue increase.

Ontario Teachers Pension Plan Board purchased a new position in PTC Inc. (NASDAQ:PTC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,356 shares of the technology company's stock, valued at approximately $520,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Altfest L J & Co. Inc. bought a new position in PTC during the first quarter valued at $646,000. Deutsche Bank AG increased its position in PTC by 13.6% during the 1st quarter. Deutsche Bank AG now owns 785,786 shares of the technology company's stock valued at $121,758,000 after purchasing an additional 93,788 shares during the period. Charles Schwab Investment Management Inc. increased its position in PTC by 5.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 865,034 shares of the technology company's stock valued at $134,037,000 after purchasing an additional 43,072 shares during the period. ASR Vermogensbeheer N.V. purchased a new position in PTC during the 1st quarter valued at about $180,000. Finally, Vanguard Group Inc. increased its position in PTC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 14,332,180 shares of the technology company's stock valued at $2,220,771,000 after purchasing an additional 39,688 shares during the period. Institutional investors own 95.14% of the company's stock.

Insider Buying and Selling

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $216.29, for a total transaction of $429,984.52. Following the transaction, the executive vice president directly owned 15,743 shares in the company, valued at approximately $3,405,053.47. This trade represents a 11.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.32% of the stock is owned by corporate insiders.

PTC Stock Down 0.4%

Shares of PTC opened at $205.42 on Friday. The stock has a market capitalization of $24.61 billion, a PE ratio of 48.45, a P/E/G ratio of 2.18 and a beta of 1.17. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $219.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89. The company's 50-day simple moving average is $185.58 and its 200-day simple moving average is $170.61.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PTC. BMO Capital Markets lifted their price objective on shares of PTC from $187.00 to $231.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Barclays set a $233.00 target price on shares of PTC in a research note on Thursday, July 31st. UBS Group reiterated a "buy" rating on shares of PTC in a research note on Tuesday, July 29th. Rosenblatt Securities restated a "buy" rating and set a $204.00 price objective on shares of PTC in a research note on Tuesday, July 29th. Finally, Royal Bank Of Canada lifted their price objective on shares of PTC from $224.00 to $235.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $202.14.

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.

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