Stanley Laman Group Ltd. Decreases Position in PTC Inc. (NASDAQ:PTC)

Stanley Laman Group Ltd. trimmed its holdings in shares of PTC Inc. (NASDAQ:PTC) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,664 shares of the technology company’s stock after selling 1,120 shares during the quarter. Stanley Laman Group Ltd.’s holdings in PTC were worth $4,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in PTC by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock valued at $1,965,137,000 after purchasing an additional 859,227 shares in the last quarter. Invesco Ltd. lifted its position in PTC by 5.8% during the 3rd quarter. Invesco Ltd. now owns 2,494,767 shares of the technology company’s stock worth $353,459,000 after acquiring an additional 137,100 shares during the period. FMR LLC increased its holdings in shares of PTC by 6.0% in the third quarter. FMR LLC now owns 1,989,152 shares of the technology company’s stock valued at $281,823,000 after purchasing an additional 113,037 shares during the period. Northern Trust Corp raised its stake in shares of PTC by 15.6% in the third quarter. Northern Trust Corp now owns 1,252,741 shares of the technology company’s stock worth $177,488,000 after purchasing an additional 168,917 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of PTC by 12.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,010,963 shares of the technology company’s stock worth $143,233,000 after purchasing an additional 109,664 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Robert W. Baird reissued an “outperform” rating and set a $210.00 price target on shares of PTC in a research report on Tuesday, April 2nd. Rosenblatt Securities restated a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Friday, April 12th. JPMorgan Chase & Co. raised PTC from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $130.00 to $200.00 in a research report on Thursday, January 4th. Royal Bank of Canada restated an “outperform” rating and issued a $202.00 target price on shares of PTC in a research note on Thursday, February 1st. Finally, Oppenheimer upped their price objective on PTC from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, PTC currently has a consensus rating of “Moderate Buy” and an average target price of $202.40.

Insider Activity at PTC

In other PTC news, insider Catherine Kniker sold 1,330 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the transaction, the insider now owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the sale, the chief executive officer now owns 968,357 shares in the company, valued at approximately $171,631,594.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Catherine Kniker sold 1,330 shares of PTC stock in a transaction on Monday, February 12th. The shares were sold at an average price of $179.59, for a total value of $238,854.70. Following the completion of the sale, the insider now owns 13,864 shares in the company, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,415 shares of company stock valued at $6,457,478. Corporate insiders own 1.17% of the company’s stock.

PTC Price Performance

Shares of PTC stock traded down $0.62 during mid-day trading on Thursday, reaching $179.88. 953,897 shares of the stock traded hands, compared to its average volume of 826,715. The stock has a market capitalization of $21.50 billion, a PE ratio of 91.31, a PEG ratio of 3.22 and a beta of 1.17. The business has a 50-day moving average of $183.49 and a 200 day moving average of $169.77. PTC Inc. has a fifty-two week low of $120.62 and a fifty-two week high of $194.24. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.80.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. PTC had a return on equity of 12.87% and a net margin of 10.86%. The firm had revenue of $550.21 million during the quarter, compared to the consensus estimate of $538.59 million. On average, analysts predict that PTC Inc. will post 3.47 EPS 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.