Robocap Asset Management Ltd Lowers Stock Holdings in PTC Inc. (NASDAQ:PTC)

Robocap Asset Management Ltd lessened its position in PTC Inc. (NASDAQ:PTC) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,708 shares of the technology company’s stock after selling 2,324 shares during the quarter. PTC makes up 3.2% of Robocap Asset Management Ltd’s investment portfolio, making the stock its 16th largest holding. Robocap Asset Management Ltd’s holdings in PTC were worth $4,727,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Covestor Ltd grew its stake in PTC by 70.8% during the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after purchasing an additional 80 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of PTC during the third quarter worth about $66,000. Blue Trust Inc. increased its stake in shares of PTC by 473.9% during the third quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock worth $144,000 after buying an additional 654 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in PTC in the third quarter valued at approximately $152,000. Finally, Signaturefd LLC lifted its stake in PTC by 9.3% in the third quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock worth $162,000 after acquiring an additional 76 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PTC shares. Citigroup decreased their price objective on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Wednesday. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and lowered their target price for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Robert W. Baird boosted their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com raised PTC from a “hold” rating to a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

PTC Stock Performance

PTC opened at $169.02 on Friday. PTC Inc. has a 1-year low of $163.30 and a 1-year high of $203.09. The stock has a market cap of $20.34 billion, a P/E ratio of 52.17, a P/E/G ratio of 2.33 and a beta of 1.19. The stock’s 50 day simple moving average is $189.94 and its 200 day simple moving average is $183.65. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.23 and a quick ratio of 0.78.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. As a group, equities analysts anticipate that PTC Inc. will post 4.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 5,373 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the transaction, the executive vice president now owns 21,707 shares of the company’s stock, valued at $4,344,221.91. The trade was a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the sale, the chief accounting officer now owns 830 shares in the company, valued at approximately $160,356. This trade represents a 67.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,242 shares of company stock worth $3,630,716. Insiders own 0.32% of the company’s stock.

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.