HighTower Advisors LLC Trims Stock Position in PTC Inc. (NASDAQ:PTC)

HighTower Advisors LLC decreased its holdings in shares of PTC Inc. (NASDAQ:PTC) by 4.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,907 shares of the technology company’s stock after selling 292 shares during the quarter. HighTower Advisors LLC’s holdings in PTC were worth $1,086,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PTC. State Street Corp lifted its holdings in shares of PTC by 2.7% in the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after acquiring an additional 133,370 shares during the last quarter. Geode Capital Management LLC raised its position in PTC by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock valued at $533,341,000 after purchasing an additional 37,645 shares during the period. Fernbridge Capital Management LP lifted its stake in PTC by 83.7% during the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after purchasing an additional 650,990 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of PTC by 2.9% during the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock worth $203,463,000 after buying an additional 30,525 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PTC by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 821,962 shares of the technology company’s stock valued at $151,134,000 after buying an additional 36,231 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Stock Performance

NASDAQ:PTC opened at $162.15 on Thursday. PTC Inc. has a 12 month low of $151.80 and a 12 month high of $203.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $19.51 billion, a PE ratio of 50.05, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The business’s fifty day moving average price is $171.03 and its 200 day moving average price is $181.11.

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

Insider Activity

In other news, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction dated 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 directly owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

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

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.