Select Equity Group L.P. Increases Holdings in PTC Inc. (NASDAQ:PTC)

Select Equity Group L.P. boosted its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 21.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 961,582 shares of the technology company's stock after buying an additional 167,417 shares during the period. Select Equity Group L.P. owned approximately 0.80% of PTC worth $176,806,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bank Pictet & Cie Europe AG lifted its holdings in shares of PTC by 1.4% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company's stock worth $722,000 after buying an additional 55 shares during the period. Wahed Invest LLC lifted its holdings in shares of PTC by 2.1% in the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock worth $539,000 after buying an additional 61 shares during the period. Allworth Financial LP lifted its holdings in shares of PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company's stock worth $35,000 after buying an additional 69 shares during the period. Otter Creek Advisors LLC lifted its holdings in shares of PTC by 0.4% in the 4th quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company's stock worth $3,527,000 after buying an additional 80 shares during the period. Finally, Kirtland Hills Capital Management LLC lifted its stake in shares of PTC by 3.2% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 2,948 shares of the technology company's stock worth $542,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

Insider Activity

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the transaction, the executive vice president now owns 17,731 shares in the company, valued at $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the director now owns 7,604 shares in the company, valued at approximately $1,182,650.12. This trade represents a 7.56% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.32% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus decreased their price objective on PTC from $230.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Robert W. Baird increased their price target on PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 price target on shares of PTC in a research note on Thursday, May 1st. Oppenheimer decreased their price target on PTC from $210.00 to $170.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Citigroup decreased their price target on PTC from $200.00 to $195.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, PTC currently has an average rating of "Moderate Buy" and a consensus price target of $187.15.

PTC Stock Performance

PTC stock traded up $0.85 during midday trading on Tuesday, hitting $173.24. 607,088 shares of the company were exchanged, compared to its average volume of 874,943. The firm has a market capitalization of $20.78 billion, a PE ratio of 53.47, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $203.09. The business has a fifty day simple moving average of $154.92 and a two-hundred day simple moving average of $173.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.42. The company had revenue of $636.37 million for 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 for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.46 earnings per share. On average, sell-side analysts forecast 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.