Sowell Financial Services LLC Takes $488,000 Position in PTC Inc. (NASDAQ:PTC)

Sowell Financial Services LLC purchased a new stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,150 shares of the technology company's stock, valued at approximately $488,000.

A number of other large investors have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in PTC by 11.4% during 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 in the last quarter. Raymond James Financial Inc. bought a new stake in PTC in the fourth quarter worth approximately $146,712,000. Norges Bank acquired a new position in shares of PTC during the 4th quarter worth $128,852,000. GAMMA Investing LLC increased its stake in shares of PTC by 13,184.0% during the 1st quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company's stock worth $53,517,000 after purchasing an additional 342,784 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of PTC during the 4th quarter worth $59,506,000. Institutional investors and hedge funds own 95.14% of the company's stock.

Insider Buying and Selling at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the transaction, the executive vice president now owns 17,731 shares in the company, valued at approximately $2,836,960. This represents a 10.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

PTC has been the topic of several analyst reports. JPMorgan Chase & Co. restated a "neutral" rating and set a $160.00 price target (down previously from $210.00) on shares of PTC in a research note on Wednesday, April 9th. KeyCorp dropped their price target on shares of PTC from $211.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Stifel Nicolaus dropped their price target on shares of PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Mizuho dropped their price target on shares of PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, BMO Capital Markets increased their price target on shares of PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $188.69.

PTC Price Performance

Shares of PTC stock opened at $166.57 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $203.09. The firm has a fifty day moving average price of $162.30 and a two-hundred day moving average price of $170.20. The company has a market cap of $19.98 billion, a PE ratio of 45.76, a price-to-earnings-growth ratio of 2.28 and a beta of 1.18.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.42. PTC had a net margin of 18.77% and a return on equity of 15.35%. The firm had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. During the same period in the prior year, the firm earned $1.46 EPS. The business's revenue was up 5.5% on a year-over-year basis. Analysts expect 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.

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