Candelo Capital Management LP Reduces Holdings in PTC Inc. (NASDAQ:PTC)

Candelo Capital Management LP lowered its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 19.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,365 shares of the technology company's stock after selling 8,662 shares during the quarter. PTC comprises about 3.3% of Candelo Capital Management LP's holdings, making the stock its 6th largest position. Candelo Capital Management LP's holdings in PTC were worth $6,503,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its stake in shares of 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 worth $3,174,432,000 after buying an additional 1,773,653 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of PTC in the 4th quarter worth approximately $146,712,000. Norges Bank purchased a new position in shares of PTC in the fourth quarter valued at $128,852,000. Commerce Bank raised its position in PTC by 557.8% during the fourth quarter. Commerce Bank now owns 311,841 shares of the technology company's stock worth $57,338,000 after acquiring an additional 264,437 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake 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 worth $2,627,961,000 after purchasing an additional 240,080 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Insider Activity

In related news, Director Corinna Lathan sold 622 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PTC shares. Citigroup cut their target price on shares of PTC from $200.00 to $195.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Barclays reduced their price objective 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. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $160.00 price target (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. Rosenblatt Securities reissued a "buy" rating and issued a $204.00 price target on shares of PTC in a research note on Tuesday, February 4th. Finally, StockNews.com lowered shares of PTC from a "buy" rating to a "hold" rating in a research report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $190.38.

PTC Stock Down 1.6 %

PTC traded down $2.48 during trading on Monday, hitting $151.55. The company had a trading volume of 402,174 shares, compared to its average volume of 874,496. The company has a market cap of $18.24 billion, a PE ratio of 46.77, a P/E/G ratio of 2.27 and a beta of 1.17. 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 1-year low of $133.38 and a 1-year high of $203.09. The business has a 50-day moving average of $154.42 and a 200-day moving average of $176.25.

PTC (NASDAQ:PTC - Get Free Report) last posted 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%. As a group, analysts forecast that PTC Inc. will post 4.46 earnings per share for the current year.

PTC 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.