Sumitomo Mitsui Trust Group Inc. Has $148.14 Million Stake in PTC Inc. (NASDAQ:PTC)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of PTC Inc. (NASDAQ:PTC) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 805,663 shares of the technology company’s stock after buying an additional 22,586 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.67% of PTC worth $148,137,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in shares of PTC by 67.7% during the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after purchasing an additional 5,717 shares in the last quarter. Mirabella Financial Services LLP grew its stake in PTC by 542.2% during the third quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock worth $3,640,000 after buying an additional 17,465 shares in the last quarter. D1 Capital Partners L.P. bought a new position in PTC in the 3rd quarter valued at about $84,549,000. Citigroup Inc. raised its position in shares of PTC by 28.4% in the 3rd quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock valued at $26,971,000 after buying an additional 32,984 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of PTC by 33.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after acquiring an additional 135,677 shares during the period. Institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PTC shares. Royal Bank of Canada lifted their price objective on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Citigroup lowered their price target on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird raised their price target on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

Insider Activity at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the sale, the chief accounting officer now owns 830 shares of the company’s stock, valued at approximately $160,356. This represents a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kristian Talvitie sold 10,306 shares of PTC stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the completion of the transaction, the chief financial officer now directly owns 57,134 shares of the company’s stock, valued at approximately $11,389,091.56. This trade represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock worth $3,630,716 over the last ninety days. Insiders own 0.32% of the company’s stock.

PTC Price Performance

Shares of NASDAQ:PTC opened at $169.02 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. PTC Inc. has a 52 week low of $163.30 and a 52 week high of $203.09. The firm has a market cap of $20.34 billion, a PE ratio of 54.35, a price-to-earnings-growth ratio of 2.62 and a beta of 1.19. The firm’s fifty day moving average is $189.94 and its 200-day moving average is $183.65.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.63% and a net margin of 16.37%. Sell-side analysts predict that PTC Inc. will post 4.62 earnings per share for the current year.

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.