PTC Inc. (NASDAQ:PTC) Shares Acquired by Bank of Nova Scotia

Posted by on May 23rd, 2023

Bank of Nova Scotia increased its stake in shares of PTC Inc. (NASDAQ:PTC – Get Rating) by 29.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,533 shares of the technology company’s stock after buying an additional 2,655 shares during the quarter. Bank of Nova Scotia’s holdings in PTC were worth $1,384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its position in PTC by 1.2% in the third quarter. Vanguard Group Inc. now owns 12,097,561 shares of the technology company’s stock worth $1,265,405,000 after acquiring an additional 143,827 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of PTC by 4.3% during the third quarter. BlackRock Inc. now owns 8,736,220 shares of the technology company’s stock valued at $913,806,000 after acquiring an additional 358,134 shares during the period. Pictet Asset Management SA raised its stake in shares of PTC by 3.8% in the third quarter. Pictet Asset Management SA now owns 4,409,684 shares of the technology company’s stock valued at $461,380,000 after acquiring an additional 161,700 shares during the last quarter. State Street Corp lifted its position in PTC by 0.8% during the 3rd quarter. State Street Corp now owns 4,058,371 shares of the technology company’s stock worth $424,506,000 after buying an additional 31,252 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in PTC by 1.6% during the 1st quarter. Invesco Ltd. now owns 2,576,733 shares of the technology company’s stock worth $277,566,000 after buying an additional 41,474 shares in the last quarter. Institutional investors own 86.79% of the company’s stock.

PTC Trading Up 0.4 %

NASDAQ:PTC opened at $134.74 on Tuesday. PTC Inc. has a 12 month low of $97.97 and a 12 month high of $139.91. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $126.04 and a 200-day moving average price of $126.50. The stock has a market cap of $15.95 billion, a price-to-earnings ratio of 50.65, a P/E/G ratio of 2.92 and a beta of 1.19.

Insider Activity at PTC

In other PTC news, EVP Staats Aaron C. Von sold 4,865 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $126.14, for a total value of $613,671.10. Following the completion of the sale, the executive vice president now owns 13,916 shares in the company, valued at $1,755,364.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other PTC news, Director Blake D. Moret sold 21,779 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $129.06, for a total value of $2,810,797.74. Following the completion of the sale, the director now owns 7,505,064 shares of the company’s stock, valued at $968,603,559.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 4,865 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $126.14, for a total value of $613,671.10. Following the transaction, the executive vice president now owns 13,916 shares of the company’s stock, valued at approximately $1,755,364.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 573,969 shares of company stock valued at $72,667,315. 8.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PTC has been the topic of a number of recent analyst reports. Barclays raised their target price on PTC from $150.00 to $152.00 in a report on Thursday, April 27th. Rosenblatt Securities restated a “buy” rating and set a $148.00 price objective on shares of PTC in a research note on Friday, April 14th. Robert W. Baird raised their price target on PTC from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, January 26th. Loop Capital boosted their price objective on PTC from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 2nd. Finally, KeyCorp upped their price target on shares of PTC from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.55.

PTC Company Profile

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PTC, Inc is a global software company, which engages in the provision of portfolio of innovative digital solutions that work together to transform how physical products are engineered, manufactured, and serviced. It operates through the Software Products and Professional Services segments. The Software Products segment includes license, subscription, and related support revenue for its products.

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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