Everence Capital Management Inc. Acquires New Stake in PTC Inc. (NASDAQ:PTC)

Everence Capital Management Inc. bought a new position in shares of PTC Inc. (NASDAQ:PTC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,580 shares of the technology company’s stock, valued at approximately $474,000.

A number of other large investors have also modified their holdings of the business. State Street Corp lifted its stake in shares of PTC by 2.7% in the third quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after buying an additional 133,370 shares in the last quarter. Geode Capital Management LLC lifted its stake in PTC by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock worth $533,341,000 after purchasing an additional 37,645 shares in the last quarter. Fernbridge Capital Management LP boosted its holdings in shares of PTC by 83.7% during the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after purchasing an additional 650,990 shares during the last quarter. Franklin Resources Inc. grew its position in shares of PTC by 2.9% in the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after purchasing an additional 30,525 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of PTC by 19.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after purchasing an additional 150,652 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Activity at PTC

In other PTC 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 transaction of $1,075,298.49. Following the completion of the transaction, the executive vice president now owns 21,707 shares in the company, valued at $4,344,221.91. The trade was a 19.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kristian Talvitie sold 10,306 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the completion of the sale, the chief financial officer now owns 57,134 shares in the company, valued at $11,389,091.56. The trade was a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,242 shares of company stock worth $3,630,716. Company insiders own 1.17% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PTC shares. Robert W. Baird upped 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. JPMorgan Chase & Co. raised their price objective on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 target price on shares of PTC in a report on Thursday, October 10th. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and cut their price target for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Finally, Royal Bank of Canada lifted their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $207.54.

PTC Price Performance

PTC stock opened at $184.54 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a 52-week low of $163.30 and a 52-week high of $203.09. The firm has a market cap of $22.17 billion, a PE ratio of 59.34, a price-to-earnings-growth ratio of 2.70 and a beta of 1.18. The company’s 50 day moving average is $192.36 and its two-hundred day moving average is $182.55.

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.