Bank of Nova Scotia Acquires 74,406 Shares of PTC Inc. (NASDAQ:PTC)

Bank of Nova Scotia raised its holdings in shares of PTC Inc. (NASDAQ:PTC) by 484.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,762 shares of the technology company’s stock after purchasing an additional 74,406 shares during the quarter. Bank of Nova Scotia owned 0.07% of PTC worth $16,505,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in PTC during the 4th quarter worth about $30,000. Allworth Financial LP grew its holdings in PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares in the last quarter. Assetmark Inc. grew its holdings in PTC by 825.0% during the 4th quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock worth $61,000 after acquiring an additional 297 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in PTC during the 4th quarter worth about $77,000. Finally, Smartleaf Asset Management LLC grew its holdings in PTC by 83.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock worth $83,000 after acquiring an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. KeyCorp raised their price target on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Stifel Nicolaus lifted their target price on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Citigroup lowered their target price on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 target price on shares of PTC in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.55.

Insider Activity

In other PTC news, Director Corinna Lathan sold 622 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the sale, the director now owns 7,604 shares in the company, valued at approximately $1,182,650.12. This trade represents a 7.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.

PTC Stock Performance

PTC stock opened at $149.24 on Thursday. The stock’s 50 day moving average price is $161.31 and its 200 day moving average price is $179.02. PTC Inc. has a one year low of $133.38 and a one year high of $203.09. The firm has a market capitalization of $17.96 billion, a PE ratio of 46.06, a price-to-earnings-growth ratio of 2.27 and a beta of 1.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. As a group, sell-side analysts expect that PTC Inc. will post 4.46 EPS for the current fiscal year.

About PTC

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.