Varma Mutual Pension Insurance Co Makes New $10.70 Million Investment in PTC Inc. $PTC

Varma Mutual Pension Insurance Co purchased a new position in shares of PTC Inc. (NASDAQ:PTC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 61,400 shares of the technology company’s stock, valued at approximately $10,696,000.

Several other large investors have also recently made changes to their positions in the business. State Street Corp raised its stake in shares of PTC by 4.1% during the third quarter. State Street Corp now owns 5,593,645 shares of the technology company’s stock worth $1,135,622,000 after acquiring an additional 221,349 shares in the last quarter. Standard Investments LLC raised its stake in shares of PTC by 10.4% during the third quarter. Standard Investments LLC now owns 1,586,000 shares of the technology company’s stock worth $321,990,000 after acquiring an additional 150,000 shares in the last quarter. Northern Trust Corp raised its stake in shares of PTC by 2.6% during the third quarter. Northern Trust Corp now owns 1,379,890 shares of the technology company’s stock worth $280,145,000 after acquiring an additional 34,663 shares in the last quarter. Select Equity Group L.P. raised its stake in shares of PTC by 26.7% during the second quarter. Select Equity Group L.P. now owns 775,077 shares of the technology company’s stock worth $133,577,000 after acquiring an additional 163,152 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of PTC by 96.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 709,352 shares of the technology company’s stock worth $123,576,000 after acquiring an additional 347,414 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Stock Performance

NASDAQ:PTC opened at $137.55 on Wednesday. The stock has a market cap of $16.37 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 2.40 and a beta of 0.98. The firm’s fifty day simple moving average is $146.69 and its 200 day simple moving average is $164.45. PTC Inc. has a twelve month low of $130.89 and a twelve month high of $219.69. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.31.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, February 4th. The technology company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.33. The business had revenue of $685.83 million for the quarter, compared to analysts’ expectations of $635.44 million. PTC had a net margin of 28.86% and a return on equity of 24.63%. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 earnings per share. As a group, research analysts predict that PTC Inc. will post 6.13 EPS for the current year.

Wall Street Analyst Weigh In

PTC has been the topic of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $190.00 target price on shares of PTC in a report on Tuesday. Citigroup cut their target price on shares of PTC from $166.00 to $146.00 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Weiss Ratings cut shares of PTC from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Finally, Royal Bank Of Canada cut their target price on shares of PTC from $235.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday, February 5th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $180.54.

Insider Buying and Selling at PTC

In other PTC news, Director Corinna Lathan sold 675 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $157.24, for a total transaction of $106,137.00. Following the completion of the transaction, the director owned 8,429 shares of the company’s stock, valued at approximately $1,325,375.96. This trade represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Staats Aaron C. Von sold 240 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $161.10, for a total value of $38,664.00. Following the transaction, the executive vice president directly owned 22,221 shares of the company’s stock, valued at $3,579,803.10. This represents a 1.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.29% of the company’s stock.

About PTC

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.