PTC Inc. (NASDAQ:PTC) is Independent Family Office LLC’s 2nd Largest Position

Independent Family Office LLC cut its holdings in PTC Inc. (NASDAQ:PTC) by 5.8% in the fourth quarter, HoldingsChannel reports. The firm owned 131,209 shares of the technology company’s stock after selling 8,091 shares during the quarter. PTC accounts for 12.5% of Independent Family Office LLC’s portfolio, making the stock its 2nd largest position. Independent Family Office LLC’s holdings in PTC were worth $24,125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in PTC during the fourth quarter worth $146,712,000. Fernbridge Capital Management LP boosted its stake in PTC by 83.7% during the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after buying an additional 650,990 shares during the period. D1 Capital Partners L.P. purchased a new position in PTC during the third quarter worth $84,549,000. Massachusetts Financial Services Co. MA boosted its stake in PTC by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock worth $167,012,000 after buying an additional 150,652 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in 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 buying an additional 135,677 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PTC has been the subject of several recent analyst reports. KeyCorp lifted their price objective on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus lifted their target price on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Rosenblatt Securities reiterated a “buy” rating and set a $204.00 target price on shares of PTC in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lifted their target price on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, PTC currently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Stock Performance

PTC stock opened at $158.79 on Tuesday. 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 50-day moving average price of $174.23 and a 200 day moving average price of $181.73. The company has a market capitalization of $19.11 billion, a P/E ratio of 49.01, a PEG ratio of 2.27 and a beta of 1.22. PTC Inc. has a 1-year low of $151.80 and a 1-year high of $203.09.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share 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%. As a group, equities research analysts forecast that PTC Inc. will post 4.46 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.