Ascent Group LLC Has $2.57 Million Stock Position in PTC Inc. (NASDAQ:PTC)

Ascent Group LLC cut its stake in shares of PTC Inc. (NASDAQ:PTC) by 30.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,615 shares of the technology company’s stock after selling 5,944 shares during the period. Ascent Group LLC’s holdings in PTC were worth $2,572,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. HB Wealth Management LLC acquired a new position in shares of PTC in the fourth quarter valued at about $252,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of PTC in the fourth quarter valued at approximately $643,000. Bellecapital International Ltd. bought a new stake in shares of PTC in the fourth quarter valued at approximately $426,000. Cigna Investments Inc. New acquired a new stake in PTC during the fourth quarter worth approximately $218,000. Finally, Ballentine Partners LLC increased its stake in PTC by 786.0% during the 4th quarter. Ballentine Partners LLC now owns 15,336 shares of the technology company’s stock worth $2,683,000 after acquiring an additional 13,605 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity at PTC

In related news, insider Catherine Kniker sold 1,254 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Catherine Kniker sold 1,254 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.45, for a total transaction of $217,506.30. Following the sale, the insider now owns 13,598 shares of the company’s stock, valued at approximately $2,358,573.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $179.33, for a total value of $717,320.00. Following the transaction, the director now directly owns 48,137 shares of the company’s stock, valued at approximately $8,632,408.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,846 shares of company stock worth $2,854,951. Company insiders own 1.17% of the company’s stock.

PTC Stock Performance

Shares of PTC stock traded up $3.42 during mid-day trading on Monday, hitting $177.22. 1,022,844 shares of the stock were exchanged, compared to its average volume of 832,499. The company has a market capitalization of $21.21 billion, a P/E ratio of 73.71, a P/E/G ratio of 3.26 and a beta of 1.18. 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 50-day simple moving average of $178.27 and a 200 day simple moving average of $180.17. PTC Inc. has a 12 month low of $134.61 and a 12 month high of $194.24.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.23. The company had revenue of $603.07 million during the quarter, compared to analyst estimates of $575.53 million. PTC had a net margin of 12.84% and a return on equity of 13.76%. Sell-side analysts anticipate that PTC Inc. will post 3.48 earnings per share for the current fiscal year.

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.