Prudential PLC Sells 15,140 Shares of PTC Inc. (NASDAQ:PTC)

Prudential PLC lowered its holdings in shares of PTC Inc. (NASDAQ:PTC) by 25.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Bank Pictet & Cie Europe AG grew its stake in shares of PTC by 1.4% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock valued at $722,000 after buying an additional 55 shares during the period. Wedmont Private Capital grew its stake in PTC by 1.6% in the fourth quarter. Wedmont Private Capital now owns 4,026 shares of the technology company’s stock valued at $734,000 after acquiring an additional 64 shares during the period. Allworth Financial LP grew its stake in PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after acquiring an additional 69 shares during the period. Otter Creek Advisors LLC raised its position in shares of PTC by 0.4% during the fourth quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company’s stock worth $3,527,000 after purchasing an additional 80 shares during the period. Finally, Kirtland Hills Capital Management LLC lifted its holdings in shares of PTC by 3.2% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 2,948 shares of the technology company’s stock worth $542,000 after purchasing an additional 91 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

PTC Stock Down 6.5 %

Shares of NASDAQ:PTC opened at $139.77 on Friday. The company has a market capitalization of $16.82 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. PTC Inc. has a 1 year low of $139.66 and a 1 year high of $203.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The business has a fifty day moving average price of $166.16 and a two-hundred day moving average price of $180.21.

PTC (NASDAQ:PTC) last posted its quarterly earnings data 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 return on equity of 14.49% and a net margin of 16.95%. Analysts forecast that PTC Inc. will post 4.46 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on PTC. Rosenblatt Securities restated a “buy” rating and set a $204.00 price target on shares of PTC in a research note on Tuesday, February 4th. Stifel Nicolaus upped their target price on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. KeyCorp increased their price objective on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Citigroup cut their target price on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $210.09.

Insider Buying and Selling

In other PTC news, Director Corinna Lathan sold 622 shares of the firm’s stock in a transaction 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 $1,182,650.12. This trade represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is currently owned by insiders.

PTC 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.