Connectus Wealth LLC Sells 425 Shares of PTC Inc. (NASDAQ:PTC)

Connectus Wealth LLC reduced its holdings in PTC Inc. (NASDAQ:PTCFree Report) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,114 shares of the technology company’s stock after selling 425 shares during the quarter. Connectus Wealth LLC’s holdings in PTC were worth $2,469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Coldstream Capital Management Inc. boosted its position in shares of PTC by 2.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,615 shares of the technology company’s stock worth $458,000 after buying an additional 55 shares during the period. US Bancorp DE boosted its position in shares of PTC by 0.8% during the fourth quarter. US Bancorp DE now owns 9,931 shares of the technology company’s stock worth $1,738,000 after buying an additional 77 shares during the period. First Trust Direct Indexing L.P. boosted its position in shares of PTC by 4.7% during the fourth quarter. First Trust Direct Indexing L.P. now owns 1,797 shares of the technology company’s stock worth $314,000 after buying an additional 81 shares during the period. Fiera Capital Corp boosted its position in shares of PTC by 2.6% during the third quarter. Fiera Capital Corp now owns 3,490 shares of the technology company’s stock worth $494,000 after buying an additional 90 shares during the period. Finally, Lindbrook Capital LLC boosted its position in shares of PTC by 108.3% during the fourth quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after buying an additional 91 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

PTC Price Performance

Shares of NASDAQ PTC opened at $174.48 on Monday. The firm has a market cap of $20.89 billion, a P/E ratio of 73.00, a price-to-earnings-growth ratio of 3.28 and a beta of 1.18. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.51. PTC Inc. has a 1-year low of $134.61 and a 1-year high of $194.24. The business’s 50 day moving average is $179.83 and its 200-day moving average is $177.32.

PTC (NASDAQ:PTCGet Free Report) last announced its earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.23. The company 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%. Equities research analysts predict that PTC Inc. will post 3.48 earnings per share for the current year.

Insider Transactions at PTC

In other news, insider Catherine Kniker sold 1,254 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.45, for a total transaction of $217,506.30. Following the transaction, the insider now owns 13,598 shares in the company, valued at $2,358,573.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Michael Ditullio sold 6,592 shares of the firm’s stock in a transaction 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 owns 53,148 shares of the company’s stock, valued at approximately $9,734,056.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Catherine Kniker sold 1,254 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total value of $217,506.30. Following the sale, the insider now directly owns 13,598 shares in the company, valued at approximately $2,358,573.10. The disclosure for this sale can be found here. 1.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Barclays upped their price objective on PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Citigroup reduced their price target on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Robert W. Baird increased their price target on PTC from $210.00 to $216.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Rosenblatt Securities reissued a “buy” rating and set a $195.00 price target on shares of PTC in a research report on Friday, April 12th. Finally, Mizuho reissued a “neutral” rating and set a $190.00 price target (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $199.73.

Check Out Our Latest Analysis on PTC

About PTC

(Free Report)

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.

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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