Baird Financial Group Inc. Lowers Stake in PTC Inc. $PTC

Baird Financial Group Inc. cut its position in PTC Inc. (NASDAQ:PTC) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 258,219 shares of the technology company’s stock after selling 19,425 shares during the period. Baird Financial Group Inc. owned about 0.22% of PTC worth $44,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new position in PTC in the 1st quarter worth $39,000. SVB Wealth LLC bought a new stake in PTC during the first quarter valued at about $41,000. Assetmark Inc. lifted its position in shares of PTC by 339.3% in the second quarter. Assetmark Inc. now owns 268 shares of the technology company’s stock valued at $46,000 after acquiring an additional 207 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of PTC by 34.4% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company’s stock worth $46,000 after acquiring an additional 76 shares during the period. Finally, MAI Capital Management boosted its stake in shares of PTC by 29.7% in the second quarter. MAI Capital Management now owns 406 shares of the technology company’s stock worth $70,000 after acquiring an additional 93 shares during the period. 95.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on PTC shares. BMO Capital Markets lowered their price target on PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Robert W. Baird set a $255.00 price objective on shares of PTC in a research report on Wednesday, October 22nd. Wall Street Zen raised shares of PTC from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 20th. Zacks Research lowered shares of PTC from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Rosenblatt Securities reduced their price target on shares of PTC from $227.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.92.

PTC Trading Up 0.6%

PTC stock opened at $178.50 on Friday. The firm has a fifty day moving average price of $190.27 and a 200 day moving average price of $191.59. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $219.69. The firm has a market cap of $21.32 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 2.16 and a beta of 1.03. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.12.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Friday, November 21st. The technology company reported $2.10 EPS for the quarter. PTC had a net margin of 27.05% and a return on equity of 23.03%. The business had revenue of $1.76 billion during the quarter. Sell-side analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

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.