Price T Rowe Associates Inc. MD Raises Stake in PTC Inc. (NASDAQ:PTC)

Price T Rowe Associates Inc. MD lifted its position in shares of PTC Inc. (NASDAQ:PTC) by 4.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 875,282 shares of the technology company’s stock after purchasing an additional 40,462 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.73% of PTC worth $165,377,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of PTC by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock worth $2,596,209,000 after purchasing an additional 205,673 shares during the period. Wellington Management Group LLP grew its holdings in shares of PTC by 1,409.3% during the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock worth $294,006,000 after purchasing an additional 1,569,081 shares during the period. Franklin Resources Inc. grew its holdings in shares of PTC by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 1,192,272 shares of the technology company’s stock worth $208,600,000 after purchasing an additional 13,468 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of PTC by 18.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,066,671 shares of the technology company’s stock worth $201,537,000 after purchasing an additional 166,112 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in PTC by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,037,724 shares of the technology company’s stock worth $181,560,000 after acquiring an additional 26,761 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Activity at PTC

In related news, COO Michael Ditullio sold 6,592 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the sale, the chief operating officer now directly owns 53,148 shares of the company’s stock, valued at approximately $9,734,056.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other PTC news, COO Michael Ditullio sold 6,592 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $183.15, for a total value of $1,207,324.80. Following the sale, the chief operating officer now directly owns 53,148 shares of the company’s stock, valued at $9,734,056.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Catherine Kniker sold 1,254 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.45, for a total value of $217,506.30. Following the completion of the sale, the insider now directly owns 13,598 shares in the company, valued at $2,358,573.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,846 shares of company stock valued at $2,854,951. Corporate insiders own 1.17% of the company’s stock.

PTC Stock Up 0.9 %

Shares of PTC traded up $1.49 during trading on Monday, reaching $175.29. The company’s stock had a trading volume of 181,614 shares, compared to its average volume of 826,657. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.51. The company has a market cap of $20.98 billion, a price-to-earnings ratio of 72.72, a P/E/G ratio of 3.26 and a beta of 1.18. PTC Inc. has a twelve month low of $134.61 and a twelve month high of $194.24. The company has a fifty day moving average of $178.27 and a two-hundred day moving average of $180.17.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.23. The business had revenue of $603.07 million for the quarter, compared to analyst estimates of $575.53 million. PTC had a return on equity of 13.76% and a net margin of 12.84%. On average, sell-side analysts predict that PTC Inc. will post 3.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PTC. Rosenblatt Securities restated a “buy” rating and issued a $195.00 price target on shares of PTC in a report on Friday, April 12th. Barclays upped their price target on PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Citigroup decreased their price target on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Mizuho restated a “neutral” rating and issued a $190.00 price target (down previously from $200.00) on shares of PTC in a report on Tuesday, June 4th. Finally, StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, PTC currently has a consensus rating of “Moderate Buy” and an average target price of $199.73.

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.