Goldman Sachs Group Inc. Cuts Stake in PTC Inc. (NASDAQ:PTC)

Goldman Sachs Group Inc. reduced its stake in PTC Inc. (NASDAQ:PTC) by 7.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 196,724 shares of the technology company’s stock after selling 15,912 shares during the quarter. Goldman Sachs Group Inc. owned 0.16% of PTC worth $34,419,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Handelsbanken Fonder AB boosted its holdings in shares of PTC by 25.2% in the 4th quarter. Handelsbanken Fonder AB now owns 25,300 shares of the technology company’s stock worth $4,426,000 after buying an additional 5,100 shares during the last quarter. Portfolio Design Labs LLC purchased a new stake in PTC during the fourth quarter valued at about $4,316,000. Norges Bank purchased a new stake in PTC during the fourth quarter valued at about $114,043,000. USA Financial Formulas purchased a new stake in PTC during the fourth quarter valued at about $1,355,000. Finally, Silverberg Bernstein Capital Management LLC purchased a new stake in PTC during the fourth quarter valued at about $9,647,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on PTC. Barclays upped their price objective on shares of PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Friday, April 12th. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research report on Friday, June 7th. Robert W. Baird upped their price target on PTC from $210.00 to $216.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, Citigroup decreased their price target on PTC from $195.00 to $187.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.73.

Insider Buying and Selling

In other PTC news, insider Catherine Kniker sold 1,254 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total transaction of $217,506.30. Following the transaction, the insider now directly owns 13,598 shares in the company, valued at $2,358,573.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PTC news, insider Catherine Kniker sold 1,254 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total transaction of $217,506.30. Following the transaction, the insider now directly owns 13,598 shares in the company, valued at $2,358,573.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Janice Chaffin sold 4,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $178.20, for a total transaction of $712,800.00. Following the transaction, the director now owns 52,137 shares in the company, valued at $9,290,813.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,846 shares of company stock worth $2,137,631. Insiders own 1.17% of the company’s stock.

PTC Stock Up 0.7 %

PTC stock opened at $177.21 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $177.85 and its 200 day moving average is $178.30. The stock has a market cap of $21.21 billion, a price-to-earnings ratio of 74.15, a price-to-earnings-growth ratio of 3.25 and a beta of 1.18. PTC Inc. has a 1-year low of $134.61 and a 1-year high of $194.24.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.23. The company had revenue of $603.07 million for the quarter, compared to analysts’ expectations of $575.53 million. PTC had a net margin of 12.84% and a return on equity of 13.76%. Sell-side analysts predict that PTC Inc. will post 3.48 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.