Thrivent Financial for Lutherans Has $18.93 Million Stake in PTC Inc. $PTC

Thrivent Financial for Lutherans raised its holdings in PTC Inc. (NASDAQ:PTC) by 6.3% in the third quarter, HoldingsChannel.com reports. The firm owned 93,239 shares of the technology company’s stock after purchasing an additional 5,539 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PTC were worth $18,929,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PTC. Empowered Funds LLC boosted its stake in shares of PTC by 3.1% in the first quarter. Empowered Funds LLC now owns 2,498 shares of the technology company’s stock valued at $387,000 after buying an additional 75 shares during the period. Geneos Wealth Management Inc. increased its stake in PTC by 34.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company’s stock worth $46,000 after acquiring an additional 76 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in PTC by 22.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,478 shares of the technology company’s stock valued at $2,840,000 after acquiring an additional 2,968 shares in the last quarter. Shell Asset Management Co. lifted its position in shares of PTC by 89.4% during the 2nd quarter. Shell Asset Management Co. now owns 14,214 shares of the technology company’s stock valued at $2,450,000 after acquiring an additional 6,709 shares during the period. Finally, Sax Wealth Advisors LLC acquired a new stake in shares of PTC during the 2nd quarter worth $246,000. 95.14% of the stock is owned by institutional investors.

PTC Stock Performance

NASDAQ PTC opened at $149.25 on Wednesday. The firm’s fifty day moving average price is $170.93 and its two-hundred day moving average price is $190.38. The stock has a market cap of $17.75 billion, a PE ratio of 24.31, a PEG ratio of 2.60 and a beta of 1.03. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.43. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $219.69.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Friday, November 21st. The technology company reported $2.10 EPS for the quarter. The company had revenue of $1.76 billion during the quarter. PTC had a return on equity of 23.02% and a net margin of 27.05%. On average, equities analysts expect that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insider Transactions at PTC

In related news, EVP Staats Aaron C. Von sold 6,328 shares of PTC stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the sale, the executive vice president directly owned 22,461 shares in the company, valued at $3,925,958.19. This trade represents a 21.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kristian Talvitie sold 50,291 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total transaction of $8,707,383.74. Following the sale, the executive vice president directly owned 12,386 shares in the company, valued at $2,144,512.04. The trade was a 80.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,277 shares of company stock worth $10,624,076 over the last three months. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on PTC shares. Robert W. Baird set a $255.00 price target on PTC in a research note on Wednesday, October 22nd. Wall Street Zen raised shares of PTC from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Oppenheimer dropped their target price 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. BMO Capital Markets reduced their price target on shares of PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $220.00 price objective on shares of PTC in a research note on Tuesday, January 27th. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $201.92.

About PTC

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.