Principal Financial Group Inc. Boosts Position in PTC Inc. (NASDAQ:PTC)

Principal Financial Group Inc. boosted its position in PTC Inc. (NASDAQ:PTC) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 149,071 shares of the technology company’s stock after purchasing an additional 5,403 shares during the period. Principal Financial Group Inc.’s holdings in PTC were worth $26,931,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. US Bancorp DE raised its stake in shares of PTC by 67.7% in the third quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after buying an additional 5,717 shares during the period. Mirabella Financial Services LLP increased its holdings in PTC by 542.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock worth $3,640,000 after acquiring an additional 17,465 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in PTC during the 3rd quarter worth approximately $84,549,000. Citigroup Inc. lifted its holdings in PTC by 28.4% during the third quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock valued at $26,971,000 after purchasing an additional 32,984 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of PTC by 2.1% in the third quarter. KBC Group NV now owns 228,386 shares of the technology company’s stock worth $41,260,000 after purchasing an additional 4,712 shares during the period. 95.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and decreased their price objective for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Robert W. Baird raised their price target on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Rosenblatt Securities reissued a “buy” rating and set a $195.00 target price on shares of PTC in a research note on Thursday, October 10th. Finally, StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, PTC currently has an average rating of “Moderate Buy” and an average price target of $207.54.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction on Monday, December 9th. The shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the completion of the transaction, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at $4,344,221.91. The trade was a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kristian Talvitie sold 10,306 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the transaction, the chief financial officer now owns 57,134 shares in the company, valued at $11,389,091.56. This trade represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,242 shares of company stock worth $3,630,716 in the last three months. Insiders own 1.17% of the company’s stock.

PTC Trading Up 1.0 %

Shares of PTC opened at $187.10 on Wednesday. PTC Inc. has a fifty-two week low of $163.30 and a fifty-two week high of $203.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The company’s fifty day moving average is $192.29 and its 200 day moving average is $181.94. The stock has a market capitalization of $22.48 billion, a PE ratio of 60.16, a P/E/G ratio of 2.70 and a beta of 1.16.

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.