Corinna Lathan Sells 622 Shares of PTC Inc. (NASDAQ:PTC) Stock

PTC Inc. (NASDAQ:PTC) Director Corinna Lathan sold 622 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the transaction, the director now directly owns 7,604 shares in the company, valued at approximately $1,182,650.12. This represents a 7.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

PTC Stock Performance

NASDAQ PTC opened at $159.90 on Friday. The stock has a market capitalization of $19.24 billion, a PE ratio of 49.35, a P/E/G ratio of 2.27 and a beta of 1.22. The business has a 50 day simple moving average of $172.82 and a two-hundred day simple moving average of $181.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. 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 results 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%. On average, research analysts predict that PTC Inc. will post 4.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PTC. Citigroup lowered their target price on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Rosenblatt Securities restated a “buy” rating and issued a $204.00 price target on shares of PTC in a research report on Tuesday, February 4th. JPMorgan Chase & Co. upped their price target on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. KeyCorp upped their price target on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus upped their price target on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, PTC currently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Institutional Investors Weigh In On PTC

Several institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its stake in shares of PTC by 11.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company’s stock valued at $3,174,432,000 after purchasing an additional 1,773,653 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of PTC by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock valued at $2,627,961,000 after purchasing an additional 240,080 shares during the last quarter. State Street Corp lifted its stake in shares of PTC by 2.7% in the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock valued at $917,088,000 after purchasing an additional 133,370 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of PTC by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company’s stock worth $555,626,000 after acquiring an additional 67,504 shares during the last quarter. Finally, Fernbridge Capital Management LP boosted its holdings in PTC by 6.0% during the 4th quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company’s stock valued at $278,484,000 after acquiring an additional 85,564 shares during the period. 95.14% of the stock is owned by institutional investors.

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.