Farther Finance Advisors LLC Decreases Position in PTC Inc. (NASDAQ:PTC)

Farther Finance Advisors LLC lessened its stake in PTC Inc. (NASDAQ:PTC) by 9.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,877 shares of the technology company’s stock after selling 317 shares during the quarter. Farther Finance Advisors LLC’s holdings in PTC were worth $449,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PTC. T. Rowe Price Investment Management Inc. raised its holdings in shares of PTC by 11.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company’s stock worth $3,174,432,000 after purchasing an additional 1,773,653 shares during the period. Raymond James Financial Inc. bought a new stake in shares of PTC in the 4th quarter worth approximately $146,712,000. Norges Bank bought a new stake in shares of PTC in the 4th quarter worth approximately $128,852,000. GAMMA Investing LLC raised its holdings in shares of PTC by 13,184.0% in the 1st quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company’s stock worth $53,517,000 after purchasing an additional 342,784 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of PTC in the 4th quarter worth approximately $59,506,000. Institutional investors own 95.14% of the company’s stock.

PTC Stock Down 1.0%

PTC opened at $169.34 on Monday. The company has a fifty day moving average price of $160.41 and a 200-day moving average price of $170.67. The firm has a market capitalization of $20.31 billion, a P/E ratio of 52.27, a price-to-earnings-growth ratio of 2.27 and a beta of 1.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. PTC Inc. has a one year low of $133.38 and a one year high of $203.09.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.42. The firm had revenue of $636.37 million during the quarter, compared to analyst estimates of $608.64 million. PTC had a net margin of 16.95% and a return on equity of 14.49%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 EPS. Equities research analysts expect that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Activity at PTC

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the transaction, the executive vice president now owns 17,731 shares of the company’s stock, valued at $2,836,960. This represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barclays lowered their price target on shares of PTC from $215.00 to $175.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $160.00 target price (down previously from $210.00) on shares of PTC in a report on Wednesday, April 9th. BMO Capital Markets boosted their target price on shares of PTC from $183.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Wall Street Zen cut shares of PTC from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. Finally, Stifel Nicolaus lowered their target price on shares of PTC from $230.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $188.69.

PTC 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.