HighTower Advisors LLC Sells 292 Shares of PTC Inc. (NASDAQ:PTC)

HighTower Advisors LLC trimmed its position in shares of PTC Inc. (NASDAQ:PTC) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,907 shares of the technology company’s stock after selling 292 shares during the period. HighTower Advisors LLC’s holdings in PTC were worth $1,086,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC increased its stake in PTC by 1,264.9% in the fourth quarter. Wealthfront Advisers LLC now owns 15,696 shares of the technology company’s stock worth $2,886,000 after purchasing an additional 14,546 shares during the period. Daiwa Securities Group Inc. increased its stake in PTC by 19.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 58,683 shares of the technology company’s stock worth $10,790,000 after buying an additional 9,551 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PTC by 46.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 165,284 shares of the technology company’s stock valued at $30,391,000 after buying an additional 52,237 shares in the last quarter. AlphaQuest LLC purchased a new stake in PTC in the 4th quarter valued at about $1,793,000. Finally, PNC Financial Services Group Inc. grew its stake in PTC by 6.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company’s stock worth $1,802,000 after acquiring an additional 559 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Corinna Lathan sold 622 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the completion of the sale, the director now owns 7,604 shares of the company’s stock, valued at $1,182,650.12. This represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.32% of the company’s stock.

PTC Price Performance

Shares of NASDAQ PTC opened at $162.15 on Thursday. PTC Inc. has a 52 week low of $151.80 and a 52 week high of $203.09. The business’s 50 day moving average price is $171.03 and its 200 day moving average price is $181.11. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. The firm has a market cap of $19.51 billion, a P/E ratio of 50.05, a P/E/G ratio of 2.27 and a beta of 1.22.

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 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%. On average, sell-side analysts expect that PTC Inc. will post 4.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Rosenblatt Securities reiterated a “buy” rating and set a $204.00 target price on shares of PTC in a report on Tuesday, February 4th. Citigroup cut their target price on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Stifel Nicolaus upped their price target on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, KeyCorp lifted their price objective on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Company 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.