Mirae Asset Global Investments Co. Ltd. Buys New Shares in PTC Inc. $PTC

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of PTC Inc. (NASDAQ:PTC) in the third quarter, Holdings Channel reports. The firm acquired 30,263 shares of the technology company’s stock, valued at approximately $4,246,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in PTC by 13.4% in the first quarter. EverSource Wealth Advisors LLC now owns 752 shares of the technology company’s stock worth $107,000 after buying an additional 89 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of PTC by 2.7% in the first quarter. D.A. Davidson & CO. now owns 3,783 shares of the technology company’s stock worth $539,000 after purchasing an additional 101 shares during the last quarter. Covestor Ltd lifted its holdings in shares of PTC by 25.3% during the second quarter. Covestor Ltd now owns 500 shares of the technology company’s stock valued at $57,000 after purchasing an additional 101 shares in the last quarter. Mufg Securities Americas Inc. boosted its holdings in shares of PTC by 5.6% during the 2nd quarter. Mufg Securities Americas Inc. now owns 3,479 shares of the technology company’s stock valued at $395,000 after acquiring an additional 186 shares during the last quarter. Finally, Arcus Capital Partners LLC raised its stake in PTC by 4.5% during the 1st quarter. Arcus Capital Partners LLC now owns 4,674 shares of the technology company’s stock valued at $666,000 after buying an additional 201 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

PTC Price Performance

Shares of PTC stock traded up $0.47 during trading hours on Friday, reaching $195.07. The company’s stock had a trading volume of 1,354,398 shares, compared to its average volume of 3,135,104. The firm has a 50 day moving average price of $166.98 and a 200-day moving average price of $148.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $21.17 billion, a P/E ratio of 22.07, a P/E/G ratio of 2.55 and a beta of 0.93. PTC Inc. has a one year low of $108.50 and a one year high of $196.05.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, November 4th. The technology company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.97 by $0.06. The company had revenue of $673.25 million during the quarter, compared to analyst estimates of $663.56 million. PTC had a return on equity of 25.31% and a net margin of 41.67%. The firm’s revenue was down 24.7% on a year-over-year basis. During the same quarter last year, the business posted $3.41 earnings per share. On average, analysts predict that PTC Inc. will post 7.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PTC shares. KeyCorp downgraded shares of PTC from an “overweight” rating to a “sector weight” rating in a report on Monday, October 5th. Citigroup lifted their price target on shares of PTC from $141.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 6th. Rosenblatt Securities lowered PTC from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $190.00 to $205.00 in a research note on Monday, October 5th. Barclays cut PTC from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $155.00 to $205.00 in a research report on Monday, October 5th. Finally, Mizuho raised their target price on shares of PTC from $160.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 6th. Two analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $200.06.

Insider Transactions at PTC

In other PTC news, Director Corinna Lathan sold 1,750 shares of the company’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by company insiders.

About PTC

PTC Inc (NASDAQ: PTC) develops software that helps manufacturers and other industrial companies design, manage, and optimize products and production processes. Its portfolio supports computer-aided design, product lifecycle management, digital manufacturing, and industrial Internet of Things initiatives.

The company’s products include Creo for 3D computer-aided design and engineering, Windchill for product lifecycle management, and Codebeamer for application lifecycle management. PTC also offers ThingWorx for industrial connectivity and IoT applications, Kepware for industrial automation connectivity, and Vuforia for augmented reality solutions.

Founded in 1985, PTC serves customers globally across industries such as automotive, aerospace and defense, industrial equipment, electronics, and life sciences.