Norden Group LLC Has $10.45 Million Position in PTC Inc. (NASDAQ:PTC)

Norden Group LLC grew its holdings in PTC Inc. (NASDAQ:PTC) by 1,600.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,308 shares of the technology company’s stock after buying an additional 52,056 shares during the quarter. Norden Group LLC’s holdings in PTC were worth $10,450,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Handelsbanken Fonder AB raised its position in PTC by 25.2% in the fourth quarter. Handelsbanken Fonder AB now owns 25,300 shares of the technology company’s stock worth $4,426,000 after purchasing an additional 5,100 shares in the last quarter. Portfolio Design Labs LLC acquired a new position in shares of PTC in the 4th quarter worth approximately $4,316,000. Norges Bank bought a new position in shares of PTC during the 4th quarter worth approximately $114,043,000. USA Financial Formulas acquired a new stake in PTC in the 4th quarter valued at $1,355,000. Finally, Silverberg Bernstein Capital Management LLC bought a new stake in PTC in the fourth quarter valued at $9,647,000. 95.14% of the stock is owned by institutional investors.

Insider Transactions at PTC

In related news, insider Catherine Kniker sold 1,254 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total value of $217,506.30. Following the transaction, the insider now directly owns 13,598 shares in the company, valued at $2,358,573.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Michael Ditullio sold 6,592 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the completion of the transaction, the chief operating officer now directly owns 53,148 shares in the company, valued at approximately $9,734,056.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Catherine Kniker sold 1,254 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total transaction of $217,506.30. Following the completion of the sale, the insider now owns 13,598 shares in the company, valued at $2,358,573.10. The disclosure for this sale can be found here. Insiders sold a total of 11,846 shares of company stock worth $2,137,631 in the last quarter. 1.17% of the stock is owned by company insiders.

PTC Stock Up 0.6 %

NASDAQ PTC opened at $183.97 on Thursday. The stock has a market capitalization of $22.02 billion, a P/E ratio of 76.98, a price-to-earnings-growth ratio of 3.44 and a beta of 1.18. PTC Inc. has a 52 week low of $134.61 and a 52 week high of $194.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a fifty day moving average of $178.20 and a 200-day moving average of $179.14.

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

Analyst Ratings Changes

A number of research analysts have issued reports on PTC shares. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Rosenblatt Securities restated a “buy” rating and issued a $195.00 price target on shares of PTC in a research report on Friday, April 12th. Mizuho reaffirmed a “neutral” rating and set a $190.00 price objective (down previously from $200.00) on shares of PTC in a report on Tuesday, June 4th. Barclays boosted their target price on PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Citigroup dropped their price target on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, PTC currently has an average rating of “Moderate Buy” and a consensus target price of $199.73.

PTC 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.