Dai ichi Life Insurance Company Ltd Trims Holdings in PTC Inc. (NASDAQ:PTC)

Dai ichi Life Insurance Company Ltd reduced its stake in shares of PTC Inc. (NASDAQ:PTC) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,077 shares of the technology company’s stock after selling 162 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in PTC were worth $2,988,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PTC. Metis Global Partners LLC increased its position in shares of PTC by 24.4% in the third quarter. Metis Global Partners LLC now owns 5,783 shares of the technology company’s stock valued at $819,000 after buying an additional 1,133 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of PTC by 25.2% in the fourth quarter. Handelsbanken Fonder AB now owns 25,300 shares of the technology company’s stock valued at $4,426,000 after buying an additional 5,100 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of PTC in the fourth quarter valued at approximately $1,355,000. Silverberg Bernstein Capital Management LLC purchased a new stake in shares of PTC in the fourth quarter valued at approximately $9,647,000. Finally, Ballentine Partners LLC boosted its stake in shares of PTC by 786.0% in the fourth quarter. Ballentine Partners LLC now owns 15,336 shares of the technology company’s stock worth $2,683,000 after acquiring an additional 13,605 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Trading Down 0.1 %

Shares of PTC stock traded down $0.15 during trading hours on Thursday, hitting $183.61. The company’s stock had a trading volume of 53,402 shares, compared to its average volume of 826,074. PTC Inc. has a twelve month low of $129.47 and a twelve month high of $194.24. The firm has a fifty day moving average of $182.44 and a 200-day moving average of $175.09. The stock has a market cap of $21.98 billion, a price-to-earnings ratio of 76.89, a P/E/G ratio of 3.44 and a beta of 1.19. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.76 and a current ratio of 0.76.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.87 by $0.23. PTC had a return on equity of 13.76% and a net margin of 12.84%. The business had revenue of $603.07 million for the quarter, compared to analyst estimates of $575.53 million. Research analysts forecast that PTC Inc. will post 3.48 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PTC. Oppenheimer lifted their price target on PTC from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $202.00 price target on shares of PTC in a research note on Thursday, February 1st. KeyCorp lifted their price target on PTC from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Barclays lifted their price target on PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 price target on shares of PTC in a research note on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.64.

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.