Zurcher Kantonalbank Zurich Cantonalbank Has $15.46 Million Stock Position in PTC Inc. (NASDAQ:PTC)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of PTC Inc. (NASDAQ:PTC) by 205.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,373 shares of the technology company’s stock after buying an additional 59,396 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PTC were worth $15,462,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in PTC during the second quarter worth about $25,000. Clear Street Markets LLC boosted its holdings in PTC by 93.5% during the first quarter. Clear Street Markets LLC now owns 207 shares of the technology company’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Legacy Financial Group LLC purchased a new position in PTC during the third quarter worth about $28,000. International Assets Investment Management LLC purchased a new position in PTC during the third quarter worth about $41,000. Finally, Resources Management Corp CT ADV boosted its holdings in PTC by 4,285.7% during the third quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock worth $43,000 after purchasing an additional 300 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PTC has been the topic of several analyst reports. Robert W. Baird restated an “outperform” rating and set a $210.00 price target on shares of PTC in a report on Tuesday, April 2nd. JPMorgan Chase & Co. raised shares of PTC from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $130.00 to $200.00 in a research report on Thursday, January 4th. Barclays lifted their price objective on shares of PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 price objective on shares of PTC in a research report on Friday, April 12th. Finally, StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $196.73.

PTC Stock Performance

PTC stock opened at $175.70 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.80. PTC Inc. has a 1-year low of $120.62 and a 1-year high of $194.24. The firm has a market capitalization of $21.00 billion, a PE ratio of 89.19, a price-to-earnings-growth ratio of 3.17 and a beta of 1.17. The firm’s 50 day simple moving average is $183.62 and its 200 day simple moving average is $168.40.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. PTC had a net margin of 10.86% and a return on equity of 12.87%. The business had revenue of $550.21 million during the quarter, compared to analysts’ expectations of $538.59 million. As a group, analysts expect that PTC Inc. will post 3.47 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $179.59, for a total value of $238,854.70. Following the completion of the sale, the insider now owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other PTC news, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the sale, the chief executive officer now owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Catherine Kniker sold 1,330 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $179.59, for a total transaction of $238,854.70. Following the sale, the insider now directly owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,415 shares of company stock valued at $6,457,478. Corporate insiders own 1.17% of the company’s stock.

PTC Company 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.