Commonwealth Equity Services LLC Boosts Stock Holdings in PTC Inc. (NASDAQ:PTC)

Commonwealth Equity Services LLC lifted its stake in shares of PTC Inc. (NASDAQ:PTC – Get Rating) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,232 shares of the technology company’s stock after acquiring an additional 189 shares during the quarter. Commonwealth Equity Services LLC’s holdings in PTC were worth $868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Lone Pine Capital LLC purchased a new position in PTC in the third quarter valued at $263,591,000. Palestra Capital Management LLC acquired a new position in PTC in the third quarter valued at $113,237,000. Select Equity Group L.P. acquired a new position in PTC in the first quarter valued at $43,148,000. BlackRock Inc. boosted its stake in PTC by 4.3% in the third quarter. BlackRock Inc. now owns 8,736,220 shares of the technology company’s stock valued at $913,806,000 after acquiring an additional 358,134 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in PTC by 342.2% in the fourth quarter. DAVENPORT & Co LLC now owns 257,210 shares of the technology company’s stock valued at $31,001,000 after acquiring an additional 199,044 shares in the last quarter. Hedge funds and other institutional investors own 86.79% of the company’s stock.

PTC Price Performance

PTC opened at $130.86 on Wednesday. The company has a 50-day moving average of $126.25 and a 200-day moving average of $126.55. The company has a market capitalization of $15.49 billion, a P/E ratio of 49.20, a PEG ratio of 2.92 and a beta of 1.19. PTC Inc. has a 1-year low of $97.97 and a 1-year high of $139.91. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.73 and a current ratio of 0.73.

Insider Activity

In other news, Director Blake D. Moret sold 25,225 shares of PTC stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $129.89, for a total value of $3,276,475.25. Following the completion of the transaction, the director now directly owns 6,448,905 shares of the company’s stock, valued at approximately $837,648,270.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Blake D. Moret sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $127.26, for a total value of $2,545,200.00. Following the completion of the sale, the director now directly owns 7,405,064 shares of the company’s stock, valued at approximately $942,368,444.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Blake D. Moret sold 25,225 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $129.89, for a total transaction of $3,276,475.25. Following the completion of the sale, the director now directly owns 6,448,905 shares of the company’s stock, valued at $837,648,270.45. The disclosure for this sale can be found here. In the last three months, insiders sold 552,190 shares of company stock valued at $69,856,517. Company insiders own 8.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Mizuho increased their target price on shares of PTC from $165.00 to $170.00 in a research note on Wednesday, May 17th. Robert W. Baird increased their target price on shares of PTC from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, January 26th. StockNews.com initiated coverage on shares of PTC in a report on Thursday, May 18th. They set a “hold” rating for the company. Rosenblatt Securities reissued a “buy” rating and set a $148.00 price target on shares of PTC in a report on Friday, April 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of PTC from $128.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, PTC has an average rating of “Moderate Buy” and an average target price of $154.55.

About PTC

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PTC, Inc is a global software company, which engages in the provision of portfolio of innovative digital solutions that work together to transform how physical products are engineered, manufactured, and serviced. It operates through the Software Products and Professional Services segments. The Software Products segment includes license, subscription, and related support revenue for its products.