Varma Mutual Pension Insurance Co Purchases New Stake in PTC Inc. $PTC

Key Points

• Varma Mutual Pension Insurance Co purchased a new stake of 61,400 shares of PTC in Q4, valued at about $10.7 million, representing roughly 0.05% ownership.
• Institutional investors now own about 95.14% of PTC, with large positions held and recently increased by firms like State Street (5.59M shares) and Robeco (boosted to 709,352 shares).
• Wall Street sentiment is a consensus "Moderate Buy" with a target price of $180.54, although several analysts have recently trimmed their price targets.

Varma Mutual Pension Insurance Co purchased a new stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 61,400 shares of the technology company's stock, valued at approximately $10,696,000. Varma Mutual Pension Insurance Co owned 0.05% of PTC as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its position in PTC by 4.1% during the third quarter. State Street Corp now owns 5,593,645 shares of the technology company's stock valued at $1,135,622,000 after buying an additional 221,349 shares during the period. Standard Investments LLC boosted its position in PTC by 10.4% during the third quarter. Standard Investments LLC now owns 1,586,000 shares of the technology company's stock worth $321,990,000 after purchasing an additional 150,000 shares during the period. Northern Trust Corp boosted its position in PTC by 2.6% during the third quarter. Northern Trust Corp now owns 1,379,890 shares of the technology company's stock worth $280,145,000 after purchasing an additional 34,663 shares during the period. Select Equity Group L.P. boosted its position in PTC by 26.7% during the second quarter. Select Equity Group L.P. now owns 775,077 shares of the technology company's stock worth $133,577,000 after purchasing an additional 163,152 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in PTC by 96.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 709,352 shares of the technology company's stock worth $123,576,000 after purchasing an additional 347,414 shares during the period. Institutional investors own 95.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PTC. KeyCorp cut their price objective on shares of PTC from $210.00 to $195.00 and set an "overweight" rating for the company in a research report on Tuesday, March 17th. Citigroup cut their price objective on shares of PTC from $166.00 to $146.00 and set a "neutral" rating for the company in a research report on Wednesday, April 29th. Rosenblatt Securities restated a "buy" rating and issued a $190.00 price objective on shares of PTC in a research report on Tuesday. Oppenheimer cut their price objective on shares of PTC from $240.00 to $200.00 and set an "outperform" rating for the company in a research report on Wednesday, January 28th. Finally, BMO Capital Markets cut their price objective on shares of PTC from $219.00 to $189.00 and set an "outperform" rating for the company in a research report on Thursday, February 5th. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $180.54.

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 240 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $161.10, for a total value of $38,664.00. Following the sale, the executive vice president directly owned 22,221 shares of the company's stock, valued at $3,579,803.10. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Corinna Lathan sold 675 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $157.24, for a total transaction of $106,137.00. Following the completion of the sale, the director directly owned 8,429 shares in the company, valued at $1,325,375.96. This represents a 7.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.29% of the company's stock.

PTC Trading Down 0.5%

Shares of PTC opened at $137.55 on Wednesday. The firm's 50 day simple moving average is $146.69 and its 200 day simple moving average is $164.45. The company has a market capitalization of $16.37 billion, a P/E ratio of 20.08, a P/E/G ratio of 2.40 and a beta of 0.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.22 and a quick ratio of 1.22. PTC Inc. has a 1-year low of $130.89 and a 1-year high of $219.69.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, February 4th. The technology company reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.33. The business had revenue of $685.83 million for the quarter, compared to the consensus estimate of $635.44 million. PTC had a net margin of 28.86% and a return on equity of 24.63%. PTC's quarterly revenue was up 21.4% on a year-over-year basis. During the same period last year, the firm posted $1.10 earnings per share. Sell-side analysts forecast that PTC Inc. will post 6.13 earnings per share for the current fiscal year.

PTC Company Profile

PTC Inc NASDAQ: PTC is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.

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