Wellington Management Group LLP Acquires 1,569,081 Shares of PTC Inc. (NASDAQ:PTC)

Wellington Management Group LLP lifted its holdings in PTC Inc. (NASDAQ:PTC) by 1,409.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,680,421 shares of the technology company’s stock after acquiring an additional 1,569,081 shares during the quarter. Wellington Management Group LLP owned 1.41% of PTC worth $294,006,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Coldstream Capital Management Inc. lifted its stake in PTC by 2.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,615 shares of the technology company’s stock worth $458,000 after purchasing an additional 55 shares during the last quarter. US Bancorp DE lifted its stake in shares of PTC by 0.8% in the 4th quarter. US Bancorp DE now owns 9,931 shares of the technology company’s stock valued at $1,738,000 after acquiring an additional 77 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in PTC by 4.7% during the 4th quarter. First Trust Direct Indexing L.P. now owns 1,797 shares of the technology company’s stock valued at $314,000 after acquiring an additional 81 shares during the period. Lindbrook Capital LLC grew its position in PTC by 108.3% during the 4th quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after acquiring an additional 91 shares during the last quarter. Finally, Janney Capital Management LLC increased its stake in PTC by 2.9% in the 4th quarter. Janney Capital Management LLC now owns 3,255 shares of the technology company’s stock worth $569,000 after purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Price Performance

Shares of PTC stock opened at $172.68 on Tuesday. The business’s fifty day moving average is $178.49 and its 200 day moving average is $178.13. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.51. The stock has a market cap of $20.67 billion, a price-to-earnings ratio of 72.25, a PEG ratio of 3.26 and a beta of 1.18. PTC Inc. has a twelve month low of $134.61 and a twelve month high of $194.24.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.23. PTC had a net margin of 12.84% and a return on equity of 13.76%. The firm had revenue of $603.07 million for the quarter, compared to the consensus estimate of $575.53 million. Research analysts expect that PTC Inc. will post 3.48 EPS for the current fiscal year.

Insider Activity

In related news, COO Michael Ditullio sold 6,592 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $183.15, for a total value of $1,207,324.80. Following the sale, the chief operating officer now owns 53,148 shares in the company, valued at approximately $9,734,056.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Michael Ditullio sold 6,592 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $183.15, for a total value of $1,207,324.80. Following the transaction, the chief operating officer now owns 53,148 shares in the company, valued at approximately $9,734,056.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Catherine Kniker sold 1,254 shares of PTC 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 completion of the transaction, the insider now directly owns 13,598 shares of the company’s stock, valued at $2,358,573.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,846 shares of company stock worth $2,137,631. Insiders own 1.17% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PTC. Rosenblatt Securities reissued a “buy” rating and set a $195.00 price objective on shares of PTC in a research note on Friday, April 12th. Barclays boosted their price objective on shares of PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Citigroup dropped their target price 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. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a report on Friday, June 7th. Finally, Robert W. Baird lifted their price objective on PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.73.

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.