Equitable Trust Co. Decreases Position in PTC Inc. (NASDAQ:PTC)

Equitable Trust Co. decreased its holdings in PTC Inc. (NASDAQ:PTC) by 30.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,488 shares of the technology company’s stock after selling 1,114 shares during the period. Equitable Trust Co.’s holdings in PTC were worth $457,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Fernbridge Capital Management LP raised its holdings in PTC by 83.7% in the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after acquiring an additional 650,990 shares in the last quarter. Congress Asset Management Co. increased its position in shares of PTC by 767.8% in the 3rd quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock valued at $119,746,000 after purchasing an additional 586,443 shares during the last quarter. D1 Capital Partners L.P. acquired a new stake in shares of PTC in the 3rd quarter valued at $84,549,000. Massachusetts Financial Services Co. MA lifted its position in shares of PTC by 19.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock worth $167,012,000 after purchasing an additional 150,652 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after purchasing an additional 135,677 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Price Performance

Shares of NASDAQ:PTC opened at $167.98 on Wednesday. PTC Inc. has a one year low of $163.30 and a one year high of $203.09. The stock has a market capitalization of $20.22 billion, a price-to-earnings ratio of 51.85, a PEG ratio of 2.33 and a beta of 1.19. The company has a 50-day simple moving average of $188.70 and a 200-day simple moving average of $183.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.78 and a current ratio of 1.23.

PTC (NASDAQ:PTC) last issued 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%. On average, analysts predict that PTC Inc. will post 4.62 EPS for the current year.

Insider Transactions at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the sale, the chief accounting officer now owns 830 shares of the company’s stock, valued at approximately $160,356. The trade was a 67.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 5,373 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the transaction, the executive vice president now owns 21,707 shares in the company, valued at $4,344,221.91. The trade was a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,242 shares of company stock worth $3,630,716 over the last 90 days. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Robert W. Baird increased their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Rosenblatt Securities restated a “buy” rating and set a $204.00 target price on shares of PTC in a research note on Tuesday, February 4th. JPMorgan Chase & Co. upped their price target on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Finally, Stifel Nicolaus raised their price objective on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

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.