Price T Rowe Associates Inc. MD Has $469.87 Million Stock Position in PTC Inc. (NASDAQ:PTC)

Price T Rowe Associates Inc. MD lessened its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,555,438 shares of the technology company's stock after selling 133,898 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 2.12% of PTC worth $469,869,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PTC. Aster Capital Management DIFC Ltd purchased a new position in shares of PTC in the 4th quarter worth $30,000. Allworth Financial LP lifted its position in PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company's stock valued at $35,000 after buying an additional 69 shares in the last quarter. Assetmark Inc. grew its stake in PTC by 825.0% during the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company's stock worth $61,000 after buying an additional 297 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of PTC in the fourth quarter worth $77,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of PTC by 83.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company's stock valued at $83,000 after acquiring an additional 205 shares during the period. Institutional investors and hedge funds own 95.14% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PTC shares. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 price target on shares of PTC in a report on Tuesday, February 4th. Oppenheimer reduced their price target on PTC from $210.00 to $170.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. StockNews.com downgraded shares of PTC from a "buy" rating to a "hold" rating in a research report on Monday, March 17th. Mizuho lowered their price target on shares of PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $160.00 price target (down previously from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $190.38.

PTC Stock Down 0.4 %

Shares of PTC stock traded down $0.65 on Wednesday, hitting $153.01. 231,671 shares of the company traded hands, compared to its average volume of 874,042. 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 12-month low of $133.38 and a 12-month high of $203.09. The company has a 50-day moving average price of $153.82 and a 200 day moving average price of $175.89. The company has a market cap of $18.41 billion, a PE ratio of 47.16, a PEG ratio of 2.27 and a beta of 1.17.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Sell-side analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Transactions at PTC

In related news, Director Corinna Lathan sold 622 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the transaction, the director now directly owns 7,604 shares of the company's stock, valued at approximately $1,182,650.12. This trade represents a 7.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.

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.