Baird Financial Group Inc. Has $42.20 Million Stock Position in PTC Inc. (NASDAQ:PTC)

Baird Financial Group Inc. grew its stake in shares of PTC Inc. (NASDAQ:PTC – Get Rating) by 5.1% during the 3rd quarter, Holdings Channel reports. The firm owned 403,427 shares of the technology company’s stock after buying an additional 19,559 shares during the period. Baird Financial Group Inc.’s holdings in PTC were worth $42,198,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Private Trust Co. NA increased its holdings in shares of PTC by 43.5% during the 3rd quarter. Private Trust Co. NA now owns 330 shares of the technology company’s stock worth $35,000 after acquiring an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of PTC by 1,527.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 358 shares of the technology company’s stock worth $37,000 after acquiring an additional 336 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of PTC during the 1st quarter worth approximately $50,000. Neo Ivy Capital Management increased its holdings in shares of PTC by 157.9% during the 3rd quarter. Neo Ivy Capital Management now owns 490 shares of the technology company’s stock worth $51,000 after acquiring an additional 300 shares during the last quarter. Finally, Wipfli Financial Advisors LLC acquired a new position in PTC in the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 86.79% of the company’s stock.

PTC Stock Performance

NASDAQ:PTC opened at $119.96 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.43 and a quick ratio of 1.43. The business has a fifty day simple moving average of $128.87 and a two-hundred day simple moving average of $121.78. PTC Inc. has a 1 year low of $96.55 and a 1 year high of $139.91. The company has a market capitalization of $14.19 billion, a P/E ratio of 41.51, a P/E/G ratio of 2.67 and a beta of 1.18.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Mizuho upped their price objective on PTC from $155.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Loop Capital upped their price objective on PTC from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. JPMorgan Chase & Co. upped their target price on PTC from $128.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Berenberg Bank initiated coverage on PTC in a report on Wednesday, January 11th. They issued a “buy” rating and a $155.00 target price for the company. Finally, Rosenblatt Securities increased their price target on PTC from $142.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $154.55.

Insider Buying and Selling

In other news, Director Blake D. Moret sold 1,700 shares of the business’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $135.15, for a total value of $229,755.00. Following the completion of the sale, the director now owns 7,704,017 shares of the company’s stock, valued at approximately $1,041,197,897.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other PTC news, Director Blake D. Moret sold 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $135.15, for a total transaction of $229,755.00. Following the transaction, the director now owns 7,704,017 shares in the company, valued at approximately $1,041,197,897.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Blake D. Moret sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $122.43, for a total value of $2,448,600.00. Following the transaction, the director now owns 7,245,696 shares in the company, valued at approximately $887,090,561.28. The disclosure for this sale can be found here. Insiders sold a total of 201,479 shares of company stock worth $25,741,693 over the last ninety days. 8.26% of the stock is owned by corporate insiders.

About PTC

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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.