Prudential Financial Inc. Sells 8,241 Shares of PTC Inc. (NASDAQ:PTC)

Prudential Financial Inc. reduced its stake in shares of PTC Inc. (NASDAQ:PTC) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,749 shares of the technology company’s stock after selling 8,241 shares during the quarter. Prudential Financial Inc.’s holdings in PTC were worth $11,538,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in PTC by 1.7% during 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 buying an additional 240,080 shares in the last quarter. State Street Corp increased its position in shares of PTC by 2.7% during the third quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after acquiring an additional 133,370 shares during the period. Geode Capital Management LLC raised its stake in shares of PTC by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock valued at $533,341,000 after acquiring an additional 37,645 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of PTC by 2.9% in the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after purchasing an additional 30,525 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in PTC by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 821,962 shares of the technology company’s stock worth $151,134,000 after purchasing an additional 36,231 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

Insider Activity at PTC

In other news, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the sale, the director now directly owns 7,604 shares of the company’s stock, valued at $1,182,650.12. The trade was a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

PTC Stock Performance

Shares of PTC stock opened at $154.80 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The company has a market cap of $18.63 billion, a PE ratio of 47.78, a PEG ratio of 2.27 and a beta of 1.22. PTC Inc. has a 12-month low of $151.80 and a 12-month high of $203.09. The business’s fifty day simple moving average is $169.84 and its 200-day simple moving average is $180.87.

PTC (NASDAQ:PTC) last announced 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%. Analysts expect that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PTC shares. Citigroup decreased their target price on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. KeyCorp upped 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 downgraded shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Stifel Nicolaus upped their price target on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, PTC currently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Company 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.