Bank of America Corp DE Lowers Holdings in PTC Inc. (NASDAQ:PTC)

Bank of America Corp DE lowered its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 17.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 504,598 shares of the technology company's stock after selling 103,711 shares during the quarter. Bank of America Corp DE owned approximately 0.42% of PTC worth $92,780,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its holdings in shares of PTC by 25.3% in the fourth quarter. BNP Paribas Financial Markets now owns 231,935 shares of the technology company's stock worth $42,646,000 after buying an additional 46,885 shares in the last quarter. AXA S.A. raised its stake in PTC by 19.4% in the fourth quarter. AXA S.A. now owns 322,768 shares of the technology company's stock valued at $59,347,000 after purchasing an additional 52,535 shares in the last quarter. Wahed Invest LLC raised its stake in PTC by 2.1% in the fourth quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock valued at $539,000 after purchasing an additional 61 shares in the last quarter. Palestra Capital Management LLC raised its stake in PTC by 17.0% in the fourth quarter. Palestra Capital Management LLC now owns 914,948 shares of the technology company's stock valued at $168,231,000 after purchasing an additional 132,690 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in PTC by 1,648.0% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,657 shares of the technology company's stock valued at $4,901,000 after purchasing an additional 25,132 shares in the last quarter. Institutional investors own 95.14% of the company's stock.

PTC Trading Up 0.2%

NASDAQ:PTC traded up $0.33 during trading hours on Thursday, hitting $171.80. The company had a trading volume of 668,571 shares, compared to its average volume of 876,701. The company has a market capitalization of $20.61 billion, a PE ratio of 53.02, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The stock has a 50-day moving average price of $154.09 and a 200 day moving average price of $174.31. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $203.09. 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 (NASDAQ:PTC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.42. The business had revenue of $636.37 million for the quarter, compared to analysts' expectations of $608.64 million. PTC had a net margin of 16.95% and a return on equity of 14.49%. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 earnings per share. On average, equities research analysts predict that PTC Inc. will post 4.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PTC. BMO Capital Markets raised their target price on shares of PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Mizuho decreased 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. Barclays decreased their price target on shares of PTC from $215.00 to $175.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus decreased 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. Finally, StockNews.com raised shares of PTC from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, PTC has an average rating of "Moderate Buy" and an average target price of $187.15.

Insider Activity at PTC

In other news, Director Corinna Lathan sold 622 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the sale, the executive vice president now owns 17,731 shares in the company, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

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.