Royal Bank of Canada Grows Stake in PTC Inc. (NASDAQ:PTC)

Royal Bank of Canada lifted its position in PTC Inc. (NASDAQ:PTC - Free Report) by 91.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,098 shares of the technology company's stock after acquiring an additional 75,441 shares during the period. Royal Bank of Canada owned 0.13% of PTC worth $29,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PTC. Bank Julius Baer & Co. Ltd Zurich boosted its stake in PTC by 5.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,199 shares of the technology company's stock worth $39,212,000 after buying an additional 9,893 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in PTC during the fourth quarter worth $8,858,000. Avantax Advisory Services Inc. acquired a new position in PTC during the fourth quarter worth $223,000. Jones Financial Companies Lllp boosted its stake in PTC by 1,140.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the technology company's stock worth $84,000 after buying an additional 422 shares during the last quarter. Finally, Choreo LLC acquired a new position in PTC during the fourth quarter worth $364,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PTC news, Director Corinna Lathan sold 622 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction of $96,739.66. Following the sale, the director now owns 7,604 shares in the company, valued at $1,182,650.12. This represents a 7.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Staats Aaron C. Von sold 1,988 shares of the 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 now owns 17,731 shares in the company, valued at approximately $2,836,960. The trade was a 10.08% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on PTC. Citigroup lowered their price objective on PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. KeyCorp reduced their target price on PTC from $211.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler reduced their target price on PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus reduced their target price on PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Robert W. Baird lifted their target price on PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $187.15.

PTC Stock Up 1.5%

Shares of PTC stock traded up $2.60 during trading on Tuesday, reaching $171.37. The company's stock had a trading volume of 891,732 shares, compared to its average volume of 879,045. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $203.09. The company has a market capitalization of $20.56 billion, a price-to-earnings ratio of 52.89, a P/E/G ratio of 2.27 and a beta of 1.19. The stock's 50-day moving average price is $156.15 and its 200 day moving average price is $173.10.

PTC (NASDAQ:PTC - Get Free Report) last released its earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.37 by $0.42. PTC had a return on equity of 14.49% and a net margin of 16.95%. The firm had revenue of $636.37 million during the quarter, compared to analysts' expectations of $608.64 million. During the same period in the previous year, the firm posted $1.46 EPS. PTC's revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts anticipate that PTC Inc. will post 4.46 EPS for the current year.

PTC 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.