Baird Financial Group Inc. Sells 37,212 Shares of PTC Inc. (NASDAQ:PTC)

Baird Financial Group Inc. decreased its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 10.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 328,349 shares of the technology company's stock after selling 37,212 shares during the period. Baird Financial Group Inc. owned approximately 0.27% of PTC worth $60,374,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PTC. 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 period. Raymond James Financial Inc. purchased a new position in PTC in the 4th quarter worth approximately $146,712,000. Norges Bank acquired a new stake in PTC in the fourth quarter valued at approximately $128,852,000. Commerce Bank boosted its stake in shares of PTC by 557.8% in the fourth quarter. Commerce Bank now owns 311,841 shares of the technology company's stock valued at $57,338,000 after purchasing an additional 264,437 shares during the period. Finally, Vanguard Group Inc. increased its stake in PTC by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company's stock worth $2,627,961,000 after buying an additional 240,080 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PTC. Citigroup cut their price target on shares of PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Robert W. Baird increased their price objective on shares of PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. BMO Capital Markets boosted their price target 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. StockNews.com upgraded shares of PTC from a "hold" rating to a "buy" rating in a research note on Monday. Finally, Stifel Nicolaus dropped their price objective on PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, PTC presently has an average rating of "Moderate Buy" and an average target price of $187.15.

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 shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the sale, the director now owns 7,604 shares of the company's stock, valued at $1,182,650.12. This trade represents a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is owned by company insiders.

PTC Stock Performance

PTC stock traded up $2.33 on Wednesday, reaching $161.05. 649,912 shares of the company were exchanged, compared to its average volume of 869,971. The stock's fifty day moving average price is $153.34 and its 200 day moving average price is $174.87. The firm has a market capitalization of $19.32 billion, a PE ratio of 49.71, a PEG ratio of 2.27 and a beta of 1.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $203.09.

PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.37 by $0.42. The business had revenue of $636.37 million during 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 revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $1.46 EPS. On average, research analysts anticipate that PTC Inc. will post 4.46 EPS for the current fiscal 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.