Allspring Global Investments Holdings LLC Decreases Stock Holdings in PTC Inc. (NASDAQ:PTC)

Allspring Global Investments Holdings LLC reduced its position in shares of PTC Inc. (NASDAQ:PTC) by 93.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,864 shares of the technology company’s stock after selling 90,497 shares during the period. Allspring Global Investments Holdings LLC’s holdings in PTC were worth $1,026,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Metis Global Partners LLC lifted its position in PTC by 24.4% in the third quarter. Metis Global Partners LLC now owns 5,783 shares of the technology company’s stock valued at $819,000 after acquiring an additional 1,133 shares during the last quarter. Silverberg Bernstein Capital Management LLC purchased a new stake in PTC in the fourth quarter valued at $9,647,000. Ballentine Partners LLC lifted its position in PTC by 786.0% in the fourth quarter. Ballentine Partners LLC now owns 15,336 shares of the technology company’s stock valued at $2,683,000 after acquiring an additional 13,605 shares during the last quarter. Wellington Management Group LLP lifted its position in PTC by 153.9% in the third quarter. Wellington Management Group LLP now owns 111,340 shares of the technology company’s stock valued at $15,775,000 after acquiring an additional 67,493 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in PTC by 3.7% in the fourth quarter. Nordea Investment Management AB now owns 8,918 shares of the technology company’s stock valued at $1,562,000 after acquiring an additional 320 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Stock Up 1.1 %

Shares of NASDAQ PTC opened at $180.44 on Wednesday. PTC Inc. has a 12-month low of $120.62 and a 12-month high of $194.24. The company has a market capitalization of $21.57 billion, a PE ratio of 91.59, a price-to-earnings-growth ratio of 3.15 and a beta of 1.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.19 and a quick ratio of 1.19. The firm’s 50-day moving average is $183.54 and its two-hundred day moving average is $169.62.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. The business had revenue of $550.21 million for the quarter, compared to the consensus estimate of $538.59 million. PTC had a net margin of 10.86% and a return on equity of 12.87%. Equities analysts anticipate that PTC Inc. will post 3.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on PTC. Oppenheimer lifted their price objective on shares of PTC from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. upgraded shares of PTC from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $130.00 to $200.00 in a research note on Thursday, January 4th. BMO Capital Markets boosted their price target on shares of PTC from $195.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $202.00 price target on shares of PTC in a research note on Thursday, February 1st. Finally, StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, PTC currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.73.

Insider Activity at PTC

In related news, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the transaction, the chief executive officer now owns 968,357 shares of the company’s stock, valued at $171,631,594.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other PTC news, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the transaction, the chief executive officer now owns 968,357 shares of the company’s stock, valued at $171,631,594.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Catherine Kniker sold 1,330 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the transaction, the insider now directly owns 13,864 shares in the company, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,415 shares of company stock valued at $6,457,478. Company insiders own 1.17% of the company’s stock.

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.