Clearbridge Investments LLC Grows Position in PTC Inc. (NASDAQ:PTC)

Clearbridge Investments LLC grew its stake in PTC Inc. (NASDAQ:PTC) by 54.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,619 shares of the technology company’s stock after buying an additional 62,008 shares during the quarter. Clearbridge Investments LLC’s holdings in PTC were worth $32,475,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Allworth Financial LP lifted its stake in shares of PTC by 58.0% during the 4th 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. raised its holdings in PTC by 825.0% during the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock valued at $61,000 after acquiring an additional 297 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of PTC in the fourth quarter valued at about $77,000. Smartleaf Asset Management LLC boosted its stake in shares of PTC by 83.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock worth $83,000 after acquiring an additional 205 shares during the period. Finally, Sentry Investment Management LLC purchased a new stake in shares of PTC during the fourth quarter worth about $84,000. Institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling

In related news, Director Corinna Lathan sold 622 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 7,604 shares of the company’s stock, valued at $1,182,650.12. This represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by company insiders.

PTC Stock Up 0.8 %

NASDAQ:PTC opened at $156.20 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $18.79 billion, a PE ratio of 48.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The company has a 50-day moving average of $168.55 and a 200 day moving average of $180.83. PTC Inc. has a 1-year low of $151.80 and a 1-year high of $203.09.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts anticipate that PTC Inc. will post 4.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PTC. KeyCorp lifted their price target on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Citigroup dropped their price target 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. Rosenblatt Securities reissued a “buy” rating and issued a $204.00 price objective on shares of PTC in a research report on Tuesday, February 4th. Finally, Stifel Nicolaus boosted their price objective on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.09.

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.