PTC Inc. (NASDAQ:PTC) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its holdings in shares of PTC Inc. (NASDAQ:PTC) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,055,884 shares of the technology company’s stock after selling 40,953 shares during the quarter. Franklin Resources Inc.’s holdings in PTC were worth $194,145,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PTC. Allworth Financial LP lifted its stake in PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. Assetmark Inc. lifted its position in PTC by 825.0% during the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock worth $61,000 after buying an additional 297 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in PTC during the fourth quarter worth $77,000. Smartleaf Asset Management LLC grew its holdings in PTC by 83.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock valued at $83,000 after buying an additional 205 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in shares of PTC in the 4th quarter worth $84,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. KeyCorp boosted their price target on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Stifel Nicolaus increased their price target on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Citigroup dropped their target price on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $204.00 price target on shares of PTC in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Stock Performance

Shares of PTC opened at $156.20 on Wednesday. The company has a market capitalization of $18.79 billion, a price-to-earnings ratio of 48.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. PTC Inc. has a 52-week low of $151.80 and a 52-week high of $203.09. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $168.55 and a 200 day moving average price of $180.83.

PTC (NASDAQ:PTC) last issued its 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%. Research analysts predict that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Corinna Lathan sold 622 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the sale, the director now directly owns 7,604 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

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.