PTC Inc. $PTC Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its PTC stake by 822.7% in the third quarter, adding 796,619 shares to hold 893,450 shares valued at about $125.4 million. Institutional investors and hedge funds own 95.14% of the stock.
• PTC beat quarterly estimates, reporting adjusted earnings of $2.03 per share and revenue of $673.25 million, though revenue fell 24.7% year over year.
• Analyst sentiment is mostly neutral: 15 analysts rate the stock Hold and two rate it Buy, with a consensus price target of $200.06. A company director also sold 1,750 shares.

Aberdeen Group plc grew its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 822.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 893,450 shares of the technology company's stock after buying an additional 796,619 shares during the period. Aberdeen Group plc owned 0.82% of PTC worth $125,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. State Street Corp raised its holdings in PTC by 10.2% in the 2nd quarter. State Street Corp now owns 6,452,323 shares of the technology company's stock valued at $733,048,000 after acquiring an additional 596,955 shares during the last quarter. Janus Henderson Group PLC lifted 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 worth $503,000,000 after purchasing an additional 11,278 shares in the last quarter. Jupiter Topco LLC purchased a new position in PTC in the 2nd quarter worth approximately $418,553,000. Amundi lifted its stake in PTC by 151.9% in the 1st quarter. Amundi now owns 1,725,555 shares of the technology company's stock worth $245,885,000 after purchasing an additional 1,040,656 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of PTC by 52.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,228,905 shares of the technology company's stock worth $172,415,000 after purchasing an additional 423,096 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Corinna Lathan sold 1,750 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company's stock.

PTC Stock Performance

NASDAQ:PTC opened at $196.00 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.63 and a quick ratio of 1.03. The firm has a market capitalization of $21.27 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.58 and a beta of 0.93. The company's 50-day moving average is $171.30 and its two-hundred day moving average is $148.92. PTC Inc. has a 1-year low of $108.50 and a 1-year high of $196.79.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The technology company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.06. The business had revenue of $673.25 million during the quarter, compared to analysts' expectations of $663.56 million. PTC had a net margin of 37.80% and a return on equity of 20.03%. The business's revenue for the quarter was down 24.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.41 EPS. Analysts forecast that PTC Inc. will post 7.12 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PTC shares. Loop Capital lowered PTC from a "buy" rating to a "hold" rating and upped their price target for the company from $200.00 to $205.00 in a research report on Monday, October 5th. Weiss Ratings raised PTC from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, October 6th. Wolfe Research downgraded PTC from an "outperform" rating to a "peer perform" rating in a research report on Thursday. Royal Bank Of Canada downgraded PTC from a "buy" rating to a "sector perform" rating and lifted their price objective for the stock from $195.00 to $306.00 in a research report on Monday, October 5th. Finally, Barclays downgraded PTC from an "overweight" rating to an "equal weight" rating and raised their target price for the stock from $155.00 to $205.00 in a research note on Monday, October 5th. Two analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $200.06.

PTC Profile

PTC Inc. develops software that helps manufacturers design, build, operate and service products. Its offerings support computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management and industrial connectivity, helping companies manage product data and coordinate work across engineering and manufacturing. PTC's products include Creo for 3D CAD, Windchill for PLM, Codebeamer for application lifecycle management, and ThingWorx for industrial connectivity and application development.

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