Granahan Investment Management LLC Cuts Holdings in PTC Inc. (NASDAQ:PTC)

Granahan Investment Management LLC lowered its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 29.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,766 shares of the technology company's stock after selling 16,660 shares during the quarter. Granahan Investment Management LLC's holdings in PTC were worth $7,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PTC. T. Rowe Price Investment Management Inc. lifted its stake in PTC by 11.4% during the 4th 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 acquiring an additional 1,773,653 shares during the period. Raymond James Financial Inc. purchased a new stake in PTC in the fourth quarter worth approximately $146,712,000. Norges Bank purchased a new stake in PTC in the fourth quarter worth approximately $128,852,000. Commerce Bank grew its position in PTC by 557.8% in the 4th quarter. Commerce Bank now owns 311,841 shares of the technology company's stock worth $57,338,000 after purchasing an additional 264,437 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of PTC by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company's stock valued at $2,627,961,000 after buying an additional 240,080 shares during the period. 95.14% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PTC shares. Stifel Nicolaus dropped their target price on PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. StockNews.com raised shares of PTC from a "hold" rating to a "buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. reiterated 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. Rosenblatt Securities restated a "buy" rating and issued a $204.00 price objective on shares of PTC in a research note on Thursday, May 1st. Finally, KeyCorp cut their price target on PTC from $211.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $187.15.

PTC Trading Down 1.1 %

PTC stock opened at $162.94 on Friday. The firm's fifty day simple moving average is $153.52 and its two-hundred day simple moving average is $174.60. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of 50.29, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $203.09.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating 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 the consensus estimate of $608.64 million. During the same period in the prior year, the firm posted $1.46 EPS. The firm's revenue was up 5.5% compared to the same quarter last year. As a group, analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current year.

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.

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