Allspring Global Investments Holdings LLC Sells 76 Shares of PTC Inc. (NASDAQ:PTC)

Allspring Global Investments Holdings LLC cut its stake in PTC Inc. (NASDAQ:PTCFree Report) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,788 shares of the technology company’s stock after selling 76 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PTC were worth $1,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PTC. Lindbrook Capital LLC grew its stake in shares of PTC by 108.3% in the fourth quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after acquiring an additional 91 shares during the period. Riverview Trust Co bought a new stake in shares of PTC in the first quarter worth approximately $34,000. Resources Management Corp CT ADV grew its stake in shares of PTC by 4,285.7% in the third quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock worth $43,000 after acquiring an additional 300 shares during the period. Principal Securities Inc. bought a new stake in PTC during the fourth quarter valued at approximately $46,000. Finally, Van ECK Associates Corp grew its position in PTC by 26.0% during the fourth quarter. Van ECK Associates Corp now owns 523 shares of the technology company’s stock valued at $92,000 after buying an additional 108 shares during the period. 95.14% of the stock is currently owned by institutional investors.

Insider Transactions at PTC

In other news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $178.20, for a total value of $712,800.00. Following the transaction, the director now directly owns 52,137 shares in the company, valued at $9,290,813.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Catherine Kniker sold 1,254 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.45, for a total value of $217,506.30. Following the completion of the sale, the insider now directly owns 13,598 shares of the company’s stock, valued at $2,358,573.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $178.20, for a total transaction of $712,800.00. Following the completion of the sale, the director now directly owns 52,137 shares of the company’s stock, valued at $9,290,813.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,846 shares of company stock worth $2,137,631. Insiders own 1.17% of the company’s stock.

Wall Street Analyst Weigh In

PTC has been the subject of several recent research reports. Citigroup cut their target price on shares of PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Robert W. Baird boosted their target price on shares of PTC from $210.00 to $216.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Barclays boosted their target price on shares of PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Mizuho reaffirmed a “neutral” rating and set a $190.00 price target (down previously from $200.00) on shares of PTC in a report on Tuesday, June 4th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.73.

Check Out Our Latest Stock Analysis on PTC

PTC Price Performance

PTC stock opened at $186.46 on Monday. PTC Inc. has a one year low of $134.61 and a one year high of $194.24. The company’s fifty day moving average price is $178.39 and its 200-day moving average price is $179.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $22.32 billion, a PE ratio of 78.02, a price-to-earnings-growth ratio of 3.51 and a beta of 1.18.

PTC (NASDAQ:PTCGet Free Report) last released its earnings results on Wednesday, May 1st. The technology company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.87 by $0.23. PTC had a net margin of 12.84% and a return on equity of 13.76%. The firm had revenue of $603.07 million for the quarter, compared to the consensus estimate of $575.53 million. On average, equities analysts anticipate that PTC Inc. will post 3.48 EPS for the current fiscal year.

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.

Further Reading

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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