Principal Financial Group Inc. Raises Holdings in PTC Inc. (NASDAQ:PTC)

Principal Financial Group Inc. grew its stake in shares of PTC Inc. (NASDAQ:PTC) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 490,748 shares of the technology company’s stock after purchasing an additional 20,683 shares during the period. Principal Financial Group Inc. owned approximately 0.42% of PTC worth $27,050,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PTC. BlackRock Inc. raised its holdings in shares of PTC by 10,192.0% during the first quarter. BlackRock Inc. now owns 10,303,522 shares of the technology company’s stock valued at $541,450,000 after purchasing an additional 10,203,410 shares during the period. FMR LLC increased its position in shares of PTC by 115.0% during the first quarter. FMR LLC now owns 5,150,179 shares of the technology company’s stock worth $270,642,000 after acquiring an additional 2,755,079 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of PTC during the first quarter worth about $130,787,000. Massachusetts Financial Services Co. MA bought a new stake in shares of PTC during the first quarter worth about $53,169,000. Finally, Wellington Management Group LLP grew its position in PTC by 213.5% in the 1st quarter. Wellington Management Group LLP now owns 1,472,849 shares of the technology company’s stock worth $77,397,000 after purchasing an additional 1,003,004 shares in the last quarter. Hedge funds and other institutional investors own 98.15% of the company’s stock.

Shares of PTC Inc. (NASDAQ:PTC) opened at 54.65 on Friday. PTC Inc. has a 52-week low of $43.01 and a 52-week high of $60.22. The stock has a 50 day moving average of $54.68 and a 200 day moving average of $55.05. The stock’s market capitalization is $6.32 billion.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.28. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The firm had revenue of $291.92 million for the quarter, compared to analysts’ expectations of $290.55 million. During the same period in the prior year, the business posted $0.26 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Analysts forecast that PTC Inc. will post $1.20 earnings per share for the current year.

A number of research firms have weighed in on PTC. Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 target price on shares of PTC in a research note on Monday, September 4th. Robert W. Baird restated a “buy” rating and set a $65.00 price target on shares of PTC in a research note on Thursday, August 31st. Evercore ISI set a $65.00 price target on shares of PTC and gave the company a “buy” rating in a research note on Monday, August 28th. Berenberg Bank initiated coverage on shares of PTC in a research note on Wednesday, August 23rd. They set a “buy” rating and a $66.00 price target on the stock. Finally, BidaskClub cut shares of PTC from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. PTC currently has a consensus rating of “Buy” and a consensus target price of $62.65.

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In related news, EVP Barry F. Cohen sold 27,374 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $54.67, for a total value of $1,496,536.58. Following the transaction, the executive vice president now owns 79,729 shares in the company, valued at approximately $4,358,784.43. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Staats Aaron C. Von sold 5,750 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $55.26, for a total transaction of $317,745.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,329 shares of company stock valued at $3,588,097. Insiders own 1.11% of the company’s stock.

PTC Company Profile

PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.

Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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