PTC Inc. (NASDAQ:PTC) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. cut its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 51.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,200 shares of the technology company's stock after selling 31,900 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in PTC were worth $5,553,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. raised its position in PTC by 11.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company's stock valued at $3,174,432,000 after purchasing an additional 1,773,653 shares during the last quarter. Vanguard Group Inc. increased its holdings in PTC by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company's stock worth $2,627,961,000 after purchasing an additional 240,080 shares in the last quarter. Geode Capital Management LLC increased its holdings in PTC by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company's stock worth $555,626,000 after purchasing an additional 67,504 shares in the last quarter. Fernbridge Capital Management LP increased its holdings in PTC by 6.0% in the fourth quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company's stock worth $278,484,000 after purchasing an additional 85,564 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in PTC by 11.0% in the fourth quarter. Northern Trust Corp now owns 1,313,273 shares of the technology company's stock worth $241,472,000 after purchasing an additional 129,910 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on PTC. Robert W. Baird raised their price objective on PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. BMO Capital Markets upped their price target on PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Barclays decreased their price objective on PTC from $215.00 to $175.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Citigroup decreased their target price on PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Finally, Wall Street Zen cut PTC from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $187.15.

PTC Price Performance

Shares of NASDAQ:PTC traded down $3.99 during mid-day trading on Wednesday, reaching $167.38. The stock had a trading volume of 817,947 shares, compared to its average volume of 879,286. The business's 50 day moving average price is $156.38 and its 200 day moving average price is $173.09. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $203.09. The company has a market cap of $20.08 billion, a P/E ratio of 51.66, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.37 by $0.42. The company had revenue of $636.37 million for the quarter, compared to the consensus estimate of $608.64 million. PTC had a return on equity of 14.49% and a net margin of 16.95%. PTC's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 EPS. Research analysts expect that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the sale, the executive vice president now directly owns 17,731 shares of the company's stock, valued at approximately $2,836,960. The trade was a 10.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Corinna Lathan sold 622 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the sale, the director now directly owns 7,604 shares of the company's stock, valued at approximately $1,182,650.12. This represents a 7.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

About PTC

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.