Congress Asset Management Co. Buys 9,860 Shares of PTC Inc. (NASDAQ:PTC)

Congress Asset Management Co. grew its stake in shares of PTC Inc. (NASDAQ:PTC) by 1.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 672,686 shares of the technology company’s stock after purchasing an additional 9,860 shares during the quarter. Congress Asset Management Co.’s holdings in PTC were worth $123,687,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd grew its stake in shares of PTC by 70.8% during the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after buying an additional 80 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of PTC in the third quarter worth about $66,000. Blue Trust Inc. grew its stake in shares of PTC by 473.9% in the third quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock worth $144,000 after purchasing an additional 654 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of PTC in the third quarter worth about $152,000. Finally, Signaturefd LLC grew its stake in shares of PTC by 9.3% in the third quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock worth $162,000 after purchasing an additional 76 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

Several analysts recently issued reports on PTC shares. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $204.00 target price on shares of PTC in a research note on Tuesday, February 4th. Royal Bank of Canada raised their target price on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird lifted their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $210.09.

PTC Price Performance

PTC stock opened at $171.10 on Friday. The firm has a 50 day moving average price of $186.10 and a 200-day moving average price of $183.40. PTC Inc. has a 52-week low of $163.30 and a 52-week high of $203.09. The firm has a market capitalization of $20.59 billion, a price-to-earnings ratio of 52.81, a PEG ratio of 2.33 and a beta of 1.19. 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 released 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%. Equities research analysts forecast that PTC Inc. will post 4.62 EPS for the current fiscal year.

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.