PTC Inc. (NASDAQ:PTC) Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC lessened its holdings in shares of PTC Inc. (NASDAQ:PTC) by 1.6% during the fourth quarter, HoldingsChannel reports. The firm owned 379,527 shares of the technology company’s stock after selling 6,108 shares during the quarter. Stephens Investment Management Group LLC’s holdings in PTC were worth $69,784,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PTC. US Bancorp DE lifted its position in PTC by 67.7% during the third quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock valued at $2,559,000 after buying an additional 5,717 shares in the last quarter. Mirabella Financial Services LLP raised its holdings in shares of PTC by 542.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock valued at $3,640,000 after buying an additional 17,465 shares during the period. D1 Capital Partners L.P. purchased a new position in PTC in the 3rd quarter worth approximately $84,549,000. Citigroup Inc. raised its stake in shares of PTC by 28.4% during the third quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock valued at $26,971,000 after purchasing an additional 32,984 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of PTC by 33.7% in the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after purchasing an additional 135,677 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Stock Performance

Shares of PTC opened at $169.02 on Friday. PTC Inc. has a 12-month low of $163.30 and a 12-month high of $203.09. The stock has a market capitalization of $20.34 billion, a P/E ratio of 52.17, a P/E/G ratio of 2.33 and a beta of 1.19. The firm’s 50 day moving average is $189.31 and its 200-day moving average is $183.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.23 and a quick ratio of 0.78.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Equities research analysts anticipate that PTC Inc. will post 4.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PTC shares. Stifel Nicolaus lifted their target price on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Citigroup dropped their target price on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Wednesday. Robert W. Baird upped their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price target on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Insider Activity at PTC

In other PTC news, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the sale, the executive vice president now directly owns 21,707 shares in the company, valued at $4,344,221.91. The trade was a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now owns 830 shares of the company’s stock, valued at $160,356. This represents a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,242 shares of company stock valued at $3,630,716. Company insiders own 0.32% of the company’s stock.

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.