E Fund Management Co. Ltd. Makes New Investment in PTC Inc. (NASDAQ:PTC)

E Fund Management Co. Ltd. purchased a new stake in shares of PTC Inc. (NASDAQ:PTC) during the second quarter, Holdings Channel reports. The fund purchased 1,385 shares of the technology company’s stock, valued at approximately $252,000.

A number of other hedge funds have also recently made changes to their positions in the company. Principal Securities Inc. bought a new position in PTC in the 4th quarter valued at approximately $46,000. Dimensional Fund Advisors LP raised its stake in shares of PTC by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 468,918 shares of the technology company’s stock valued at $82,044,000 after acquiring an additional 3,925 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of PTC by 15.8% during the fourth quarter. Quadrant Capital Group LLC now owns 790 shares of the technology company’s stock worth $138,000 after purchasing an additional 108 shares during the period. Brown Advisory Inc. grew its stake in shares of PTC by 20.3% in the fourth quarter. Brown Advisory Inc. now owns 9,899 shares of the technology company’s stock worth $1,732,000 after purchasing an additional 1,667 shares during the last quarter. Finally, Norges Bank acquired a new stake in PTC in the fourth quarter valued at $114,043,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PTC has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $202.00 target price on shares of PTC in a report on Thursday, August 1st. Mizuho reiterated a “neutral” rating and issued a $190.00 target price (down from $200.00) on shares of PTC in a report on Tuesday, June 4th. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Piper Sandler upped their price objective on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Rosenblatt Securities increased their price objective on shares of PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.18.

PTC Trading Up 2.3 %

NASDAQ PTC opened at $179.13 on Friday. PTC Inc. has a 52 week low of $134.61 and a 52 week high of $194.24. The business has a 50 day moving average price of $174.39 and a 200-day moving average price of $178.65. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The company has a market cap of $21.52 billion, a price-to-earnings ratio of 74.95, a P/E/G ratio of 3.19 and a beta of 1.18.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $518.64 million for the quarter, compared to the consensus estimate of $533.04 million. PTC had a net margin of 13.32% and a return on equity of 13.36%. As a group, equities analysts expect that PTC Inc. will post 3.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PTC news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the completion of the sale, the director now directly owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the sale, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Schechter sold 5,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total transaction of $858,650.00. Following the completion of the sale, the director now owns 59,616 shares of the company’s stock, valued at approximately $10,237,855.68. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $2,431,330 in the last quarter. Insiders own 1.17% of the company’s stock.

About PTC

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.