Candriam S.C.A. Decreases Stake in PTC Inc. (NASDAQ:PTC)

Candriam S.C.A. reduced its stake in PTC Inc. (NASDAQ:PTC) by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 373,568 shares of the technology company’s stock after selling 36,833 shares during the period. Candriam S.C.A.’s holdings in PTC were worth $68,688,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. US Bancorp DE increased its stake in PTC by 67.7% in the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after purchasing an additional 5,717 shares during the period. Mirabella Financial Services LLP increased its stake in PTC by 542.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock worth $3,640,000 after purchasing an additional 17,465 shares during the period. D1 Capital Partners L.P. purchased a new position in shares of PTC during the third quarter valued at approximately $84,549,000. Citigroup Inc. increased its stake in shares of PTC by 28.4% during the third quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock valued at $26,971,000 after buying an additional 32,984 shares during the period. Finally, JPMorgan Chase & Co. increased 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 valued at $97,193,000 after buying an additional 135,677 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PTC

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the sale, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at $4,344,221.91. This trade represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by insiders.

PTC Trading Up 1.7 %

PTC stock opened at $161.16 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $178.39 and its two-hundred day simple moving average is $182.69. PTC Inc. has a 12 month low of $155.53 and a 12 month high of $203.09. The company has a market capitalization of $19.39 billion, a price-to-earnings ratio of 49.74, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC) last announced its quarterly earnings results 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, equities analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

PTC has been the topic of several research analyst reports. Royal Bank of Canada boosted their target price on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Citigroup dropped their price target on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Piper Sandler lifted their price target on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Robert W. Baird lifted their price target on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, KeyCorp lifted their price target on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.