PTC Inc. $PTC Stake Boosted by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP increased its holdings in PTC Inc. (NASDAQ:PTC) by 74.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,296 shares of the technology company’s stock after buying an additional 6,083 shares during the quarter. Fulcrum Asset Management LLP’s holdings in PTC were worth $1,967,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Candriam S.C.A. increased its stake in shares of PTC by 13.5% in the 3rd quarter. Candriam S.C.A. now owns 276,467 shares of the technology company’s stock worth $38,930,000 after purchasing an additional 32,799 shares in the last quarter. Ethic Inc. raised its holdings in PTC by 7.5% in the 3rd quarter. Ethic Inc. now owns 13,236 shares of the technology company’s stock worth $1,857,000 after purchasing an additional 920 shares during the period. Parallel Advisors LLC lifted its position in PTC by 5.7% during the third quarter. Parallel Advisors LLC now owns 1,180 shares of the technology company’s stock valued at $166,000 after purchasing an additional 64 shares in the last quarter. Alps Advisors Inc. lifted its position in PTC by 9.9% during the third quarter. Alps Advisors Inc. now owns 10,100 shares of the technology company’s stock valued at $1,417,000 after purchasing an additional 911 shares in the last quarter. Finally, Canvas Wealth Advisors LLC purchased a new position in PTC during the third quarter valued at $409,000. 95.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PTC has been the subject of several recent research reports. Mizuho boosted their price target on PTC from $160.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft downgraded PTC to a “hold” rating and set a $205.00 price objective on the stock. in a research note on Monday, October 5th. Rosenblatt Securities cut PTC from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $190.00 to $205.00 in a research report on Monday, October 5th. Robert W. Baird cut PTC from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Weiss Ratings upgraded PTC from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $200.06.

Insider Buying and Selling

In other news, Director Corinna Lathan sold 1,750 shares of the business’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $195.75, for a total value of $342,562.50. Following the transaction, the director directly owned 6,679 shares in the company, valued at $1,307,414.25. The trade was a 20.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

PTC Stock Up 0.3%

Shares of PTC stock opened at $196.55 on Wednesday. The company has a market capitalization of $21.33 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 2.57 and a beta of 0.93. PTC Inc. has a one year low of $108.50 and a one year high of $196.79. The company’s fifty day moving average price is $168.57 and its 200-day moving average price is $148.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.63 and a quick ratio of 1.03.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, November 4th. The technology company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. The company had revenue of $673.25 million for the quarter, compared to analysts’ expectations of $663.56 million. PTC had a net margin of 37.80% and a return on equity of 20.03%. PTC’s revenue for the quarter was down 24.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.41 EPS. Sell-side analysts expect that PTC Inc. will post 7.12 EPS for the current fiscal year.

About PTC

PTC Inc. develops software that helps manufacturers design, build, operate and service products. Its offerings support computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management and industrial connectivity, helping companies manage product data and coordinate work across engineering and manufacturing. PTC’s products include Creo for 3D CAD, Windchill for PLM, Codebeamer for application lifecycle management, and ThingWorx for industrial connectivity and application development.