Avantax Advisory Services Inc. Takes Position in PTC Inc. (NASDAQ:PTC)

Avantax Advisory Services Inc. purchased a new position in shares of PTC Inc. (NASDAQ:PTC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,213 shares of the technology company’s stock, valued at approximately $223,000.

A number of other institutional investors have also recently bought and sold shares of PTC. Bank Pictet & Cie Europe AG boosted its holdings in shares of PTC by 1.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock worth $722,000 after buying an additional 55 shares during the period. Wedmont Private Capital grew its position in shares of PTC by 1.6% in the fourth quarter. Wedmont Private Capital now owns 4,026 shares of the technology company’s stock valued at $734,000 after purchasing an additional 64 shares during the last quarter. Allworth Financial LP grew its position in shares of PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. Otter Creek Advisors LLC lifted its holdings in PTC by 0.4% during the 4th quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company’s stock worth $3,527,000 after purchasing an additional 80 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC boosted its stake in PTC by 3.2% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 2,948 shares of the technology company’s stock valued at $542,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insiders Place Their Bets

In other PTC news, Director Corinna Lathan sold 622 shares of PTC 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 transaction, the director now directly owns 7,604 shares of the company’s stock, valued at $1,182,650.12. The trade was a 7.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by insiders.

PTC Price Performance

Shares of NASDAQ PTC opened at $162.15 on Thursday. The company has a market capitalization of $19.51 billion, a PE ratio of 50.05, a PEG ratio of 2.27 and a beta of 1.22. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average price is $171.03 and its 200-day moving average price is $181.11. PTC Inc. has a twelve month low of $151.80 and a twelve month high of $203.09.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. On average, equities analysts anticipate that PTC Inc. will post 4.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Rosenblatt Securities reaffirmed a “buy” rating and set a $204.00 price target on shares of PTC in a research report on Tuesday, February 4th. Stifel Nicolaus boosted their price objective on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. KeyCorp raised their target price on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. boosted their price target on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PTC currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

PTC 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.