Wedmont Private Capital Grows Stock Position in PTC Inc. (NASDAQ:PTC)

Wedmont Private Capital grew its holdings in shares of PTC Inc. (NASDAQ:PTC – Get Rating) by 9.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,713 shares of the technology company’s stock after purchasing an additional 234 shares during the quarter. Wedmont Private Capital’s holdings in PTC were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. increased its position in shares of PTC by 2.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 63,703 shares of the technology company’s stock valued at $6,663,000 after purchasing an additional 1,730 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of PTC during the 3rd quarter valued at about $1,011,000. Industrial Alliance Investment Management Inc. increased its position in shares of PTC by 14.1% during the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 34,210 shares of the technology company’s stock valued at $3,578,000 after purchasing an additional 4,240 shares during the last quarter. National Pension Service increased its position in shares of PTC by 1,870.0% during the 3rd quarter. National Pension Service now owns 201,220 shares of the technology company’s stock valued at $21,263,000 after purchasing an additional 191,006 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of PTC by 0.6% during the 3rd quarter. Retirement Systems of Alabama now owns 35,115 shares of the technology company’s stock valued at $3,673,000 after purchasing an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 86.79% of the company’s stock.

Insider Transactions at PTC

In other 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 sale, the director now directly owns 7,704,017 shares of the company’s stock, valued at approximately $1,041,197,897.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Blake D. Moret sold 8,000 shares of the stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $134.65, for a total transaction of $1,077,200.00. Following the sale, the director now owns 7,664,017 shares in the company, valued at approximately $1,031,959,889.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Blake D. Moret sold 1,700 shares of the stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $135.15, for a total value of $229,755.00. Following the sale, the director now owns 7,704,017 shares in the company, valued at approximately $1,041,197,897.55. The disclosure for this sale can be found here. Insiders have sold 201,479 shares of company stock valued at $25,741,693 in the last ninety days. Corporate insiders own 8.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PTC shares. Barclays boosted their price objective on PTC from $144.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Berenberg Bank started coverage on PTC in a research note on Wednesday, January 11th. They set a “buy” rating and a $155.00 price objective for the company. Royal Bank of Canada boosted their price objective on PTC from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, January 30th. Rosenblatt Securities boosted their price objective on PTC from $142.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. Finally, KeyCorp boosted their price objective on PTC from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $154.55.

PTC Trading Down 0.6 %

PTC stock opened at $118.71 on Friday. PTC Inc. has a 1-year low of $96.55 and a 1-year high of $139.91. 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 company has a market capitalization of $14.04 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 2.69 and a beta of 1.18. The business has a 50 day simple moving average of $128.69 and a two-hundred day simple moving average of $121.81.

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

PTC Profile

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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.