Prudential PLC Reduces Stock Position in PTC Inc. (NASDAQ:PTC)

Prudential PLC trimmed its holdings in PTC Inc. (NASDAQ:PTC) by 25.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,649 shares of the technology company’s stock after selling 15,140 shares during the period. Prudential PLC’s holdings in PTC were worth $8,210,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of PTC in the fourth quarter worth about $146,712,000. Norges Bank purchased a new stake in PTC in the 4th quarter worth approximately $128,852,000. Vanguard Group Inc. boosted its holdings in PTC by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock valued at $2,627,961,000 after purchasing an additional 240,080 shares during the period. JPMorgan Chase & Co. grew its position in shares of PTC by 33.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after purchasing an additional 135,677 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of PTC by 2.7% in the third quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after purchasing an additional 133,370 shares during the period. Institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling at PTC

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PTC. KeyCorp lifted their price objective on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Citigroup lowered their target price on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. 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, Stifel Nicolaus raised their price objective on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Price Performance

Shares of NASDAQ:PTC opened at $139.77 on Friday. The company’s fifty day moving average is $166.16 and its 200 day moving average is $180.21. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC Inc. has a 52 week low of $139.66 and a 52 week high of $203.09. The stock has a market cap of $16.82 billion, a PE ratio of 43.14, a PEG ratio of 2.27 and a beta of 1.22.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. Research analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current year.

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.