PTC Inc. (NASDAQ:PTC) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in PTC Inc. by 12.2% in Q1, holding 185,525 shares valued at approximately $28.7 million.
• Insider trading activity included EVP Staats Aaron C. Von selling 1,988 shares, reducing his stake by 10.08% to approximately $2.8 million.
• PTC's earnings report showed $1.79 EPS, exceeding estimates and indicating a 5.5% year-over-year revenue increase to $636.37 million.

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 185,525 shares of the technology company's stock after purchasing an additional 20,241 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.15% of PTC worth $28,747,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PTC. Commonwealth Equity Services LLC lifted its holdings in shares of PTC by 16.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,632 shares of the technology company's stock worth $668,000 after purchasing an additional 523 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of PTC during the fourth quarter worth $207,000. LPL Financial LLC lifted 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 valued at $3,294,000 after acquiring an additional 2,285 shares during the period. Korea Investment CORP lifted its holdings in PTC by 79.8% in the fourth quarter. Korea Investment CORP now owns 77,376 shares of the technology company's stock valued at $14,227,000 after acquiring an additional 34,335 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in PTC by 2.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 211,778 shares of the technology company's stock valued at $39,082,000 after acquiring an additional 5,695 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the transaction, the executive vice president owned 17,731 shares of the company's stock, valued at approximately $2,836,960. The trade was a 10.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.32% of the company's stock.

Analyst Ratings Changes

PTC has been the subject of a number of recent analyst reports. Mizuho reduced their target price on PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Wall Street Zen downgraded PTC from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Robert W. Baird raised their target price on PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. reissued 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, Rosenblatt Securities reissued a "buy" rating and issued a $204.00 target price on shares of PTC in a report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, PTC has an average rating of "Moderate Buy" and an average target price of $194.08.

PTC Trading Up 1.2%

NASDAQ:PTC opened at $204.51 on Monday. The stock has a fifty day simple moving average of $177.60 and a 200-day simple moving average of $168.85. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $213.14. The company has a market capitalization of $24.53 billion, a PE ratio of 56.18, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.40.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.42. PTC had a net margin of 18.77% and a return on equity of 15.35%. The firm had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. During the same quarter in the previous year, the company posted $1.46 EPS. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts expect that PTC Inc. will post 4.46 earnings per share 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.

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