Connor Clark & Lunn Investment Management Ltd. Makes New Investment in PTC Inc. (NASDAQ:PTC)

Connor Clark & Lunn Investment Management Ltd. bought a new position in PTC Inc. (NASDAQ:PTC) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,841 shares of the technology company’s stock, valued at approximately $522,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its stake in PTC by 10.9% in the third quarter. Empowered Funds LLC now owns 2,144 shares of the technology company’s stock valued at $387,000 after acquiring an additional 210 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of PTC in the 3rd quarter valued at $1,235,000. Advisors Asset Management Inc. boosted its holdings in PTC by 9.8% in the third quarter. Advisors Asset Management Inc. now owns 7,335 shares of the technology company’s stock worth $1,325,000 after purchasing an additional 654 shares in the last quarter. Intech Investment Management LLC increased its position in PTC by 19.8% during the third quarter. Intech Investment Management LLC now owns 25,290 shares of the technology company’s stock worth $4,569,000 after buying an additional 4,177 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in PTC by 19.5% during 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 buying an additional 150,652 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

PTC has been the topic of a number of analyst reports. KeyCorp increased their price objective on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Rosenblatt Securities reiterated a “buy” rating and set a $204.00 price target on shares of PTC in a report on Tuesday, February 4th. JPMorgan Chase & Co. boosted their price objective on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Stifel Nicolaus upped their price objective on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, StockNews.com downgraded shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, PTC currently has an average rating of “Moderate Buy” and an average target price of $210.09.

PTC Stock Performance

NASDAQ PTC opened at $159.84 on Friday. The company’s fifty day moving average is $172.37 and its two-hundred day moving average is $181.23. The firm has a market capitalization of $19.23 billion, a price-to-earnings ratio of 49.33, a P/E/G ratio of 2.27 and a beta of 1.22. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. PTC Inc. has a 52-week low of $151.80 and a 52-week high of $203.09.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) 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%. Equities research analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

Insider Buying and Selling

In related news, Director Corinna Lathan sold 622 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the transaction, the director now owns 7,604 shares in the company, valued at $1,182,650.12. This represents a 7.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.

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.