Price T Rowe Associates Inc. MD Sells 3,761,462 Shares of PTC Inc. (NASDAQ:PTC)

Price T Rowe Associates Inc. MD lessened its stake in shares of PTC Inc. (NASDAQ:PTC – Get Rating) by 85.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644,877 shares of the technology company’s stock after selling 3,761,462 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in PTC were worth $67,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of PTC by 4.3% in the 3rd quarter. BlackRock Inc. now owns 8,736,220 shares of the technology company’s stock worth $913,806,000 after acquiring an additional 358,134 shares during the last quarter. Pictet Asset Management SA increased its stake in PTC by 3.8% in the 3rd quarter. Pictet Asset Management SA now owns 4,409,684 shares of the technology company’s stock valued at $461,380,000 after buying an additional 161,700 shares during the last quarter. Invesco Ltd. increased its stake in PTC by 1.6% in the 1st quarter. Invesco Ltd. now owns 2,576,733 shares of the technology company’s stock valued at $277,566,000 after buying an additional 41,474 shares during the last quarter. Lone Pine Capital LLC purchased a new stake in PTC in the 3rd quarter valued at about $263,591,000. Finally, Robeco Schweiz AG increased its stake in PTC by 3.9% in the 1st quarter. Robeco Schweiz AG now owns 1,348,000 shares of the technology company’s stock valued at $145,207,000 after buying an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 86.79% of the company’s stock.

PTC Stock Down 0.9 %

PTC opened at $117.33 on Tuesday. The company has a 50 day moving average of $128.87 and a 200 day moving average of $121.74. The company has a market cap of $13.88 billion, a PE ratio of 40.60, a price-to-earnings-growth ratio of 2.67 and a beta of 1.18. PTC Inc. has a 12 month low of $96.55 and a 12 month high of $139.91. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.56.

PTC (NASDAQ:PTC – Get Rating) last released its quarterly earnings data on Wednesday, February 1st. The technology company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.01). The business had revenue of $465.91 million during the quarter, compared to the consensus estimate of $464.43 million. PTC had a return on equity of 18.20% and a net margin of 17.62%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the business posted $0.65 earnings per share. On average, sell-side analysts expect that PTC Inc. will post 2.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Mizuho increased their price objective on shares of PTC from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. Citigroup increased their price objective on shares of PTC from $135.00 to $147.00 and gave the company a “neutral” rating in a research note on Friday, January 27th. Loop Capital increased their price objective on shares of PTC from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. Royal Bank of Canada raised their price target on shares of PTC from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, January 30th. Finally, Rosenblatt Securities raised their price target on shares of PTC from $142.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $154.55.

Insider Buying and Selling

In other PTC news, insider Michael Ditullio sold 2,000 shares of the firm’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $130.63, for a total value of $261,260.00. Following the completion of the transaction, the insider now directly owns 63,250 shares of the company’s stock, valued at approximately $8,262,347.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PTC news, insider Michael Ditullio sold 2,000 shares of the firm’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $130.63, for a total value of $261,260.00. Following the completion of the transaction, the insider now directly owns 63,250 shares of the company’s stock, valued at approximately $8,262,347.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Blake D. Moret sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $122.43, for a total transaction of $2,448,600.00. Following the completion of the transaction, the director now directly owns 7,245,696 shares of the company’s stock, valued at $887,090,561.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,479 shares of company stock valued at $25,741,693. Company insiders own 8.26% of the company’s stock.

PTC Profile

(Get Rating)

PTC, Inc is a global software company, which engages in the provision of portfolio of innovative digital solutions that work together to transform how physical products are engineered, manufactured, and serviced. It operates through the Software Products and Professional Services segments. The Software Products segment includes license, subscription, and related support revenue for its products.