Millennium Management LLC Cuts Position in PTC Inc. (NASDAQ:PTC)

Millennium Management LLC cut its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 70.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,907 shares of the technology company's stock after selling 142,852 shares during the quarter. Millennium Management LLC's holdings in PTC were worth $11,015,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of PTC during the 4th quarter worth $30,000. Allworth Financial LP grew its stake in shares of PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company's stock worth $35,000 after purchasing an additional 69 shares during the period. Kapitalo Investimentos Ltda acquired a new position in shares of PTC during the 4th quarter worth $51,000. Assetmark Inc. grew its stake in shares of PTC by 825.0% during the 4th quarter. Assetmark Inc. now owns 333 shares of the technology company's stock worth $61,000 after purchasing an additional 297 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in shares of PTC during the 4th quarter worth $77,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Citigroup decreased their price objective on shares of PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. Stifel Nicolaus decreased their price objective on shares of PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. KeyCorp decreased their price objective on shares of PTC from $211.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Wall Street Zen lowered shares of PTC from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $187.15.

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the transaction, the executive vice president now directly owns 17,731 shares in the company, valued at $2,836,960. This represents a 10.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Corinna Lathan sold 622 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction of $96,739.66. Following the transaction, the director now owns 7,604 shares in the company, valued at approximately $1,182,650.12. The trade was a 7.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.32% of the company's stock.

PTC Trading Down 0.2%

Shares of PTC stock traded down $0.41 during mid-day trading on Thursday, hitting $166.97. 150,770 shares of the stock were exchanged, compared to its average volume of 876,424. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $203.09. The stock has a market capitalization of $20.03 billion, a price-to-earnings ratio of 51.51, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The company has a 50-day simple moving average of $156.53 and a 200 day simple moving average of $173.05. 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 (NASDAQ:PTC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.42. PTC had a net margin of 16.95% and a return on equity of 14.49%. The company had revenue of $636.37 million for the quarter, compared to analysts' expectations of $608.64 million. During the same period last year, the company earned $1.46 EPS. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

PTC Company 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.