WCM Investment Management LLC Sells 6,502 Shares of PTC Inc. (NASDAQ:PTC)

WCM Investment Management LLC lowered its stake in PTC Inc. (NASDAQ:PTC) by 32.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,776 shares of the technology company’s stock after selling 6,502 shares during the quarter. WCM Investment Management LLC’s holdings in PTC were worth $2,530,000 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 the stock. US Bancorp DE increased its stake in PTC by 67.7% in the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after buying an additional 5,717 shares in the last quarter. Mirabella Financial Services LLP grew its position in shares of PTC by 542.2% during the third quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock worth $3,640,000 after purchasing an additional 17,465 shares in the last quarter. D1 Capital Partners L.P. purchased a new stake in shares of PTC during the third quarter worth about $84,549,000. Citigroup Inc. raised its stake in PTC by 28.4% during the 3rd quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock valued at $26,971,000 after purchasing an additional 32,984 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in PTC by 33.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after purchasing an additional 135,677 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Trading Down 0.4 %

Shares of NASDAQ PTC opened at $168.42 on Tuesday. The stock has a market capitalization of $20.27 billion, a P/E ratio of 51.98, a PEG ratio of 2.33 and a beta of 1.19. PTC Inc. has a 1-year low of $163.30 and a 1-year high of $203.09. The business’s 50 day moving average is $189.31 and its two-hundred day moving average is $183.70. 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 released its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate 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, research analysts expect that PTC Inc. will post 4.62 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $204.00 price objective on shares of PTC in a research report on Tuesday, February 4th. Stifel Nicolaus lifted their price target on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. increased their price objective on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Citigroup reduced their target price on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Finally, StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $210.09.

Insider Activity

In other news, CAO Alice Christenson sold 1,703 shares of the company’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 transaction, the chief accounting officer now owns 830 shares of the company’s stock, valued at approximately $160,356. This represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Corinna Lathan sold 860 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the sale, the director now directly owns 6,843 shares of the company’s stock, valued at $1,368,600. This represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,242 shares of company stock valued at $3,630,716. 0.32% of the stock is currently owned by company insiders.

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.