Praesidium Investment Management Company LLC Sells 27,788 Shares of PTC Inc. (NASDAQ:PTC)

Praesidium Investment Management Company LLC lowered its stake in shares of PTC Inc. (NASDAQ:PTC) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,438 shares of the technology company’s stock after selling 27,788 shares during the quarter. PTC comprises approximately 10.8% of Praesidium Investment Management Company LLC’s investment portfolio, making the stock its 3rd biggest position. Praesidium Investment Management Company LLC owned about 0.29% of PTC worth $64,251,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PTC. T. Rowe Price Investment Management Inc. lifted its stake in PTC by 11.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company’s stock worth $3,174,432,000 after purchasing an additional 1,773,653 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of PTC in the 4th quarter valued at $146,712,000. Norges Bank bought a new position in shares of PTC in the 4th quarter valued at $128,852,000. Janus Henderson Group PLC lifted its stake in shares of PTC by 1,753.2% in the 4th quarter. Janus Henderson Group PLC now owns 298,627 shares of the technology company’s stock valued at $54,909,000 after acquiring an additional 282,513 shares during the last quarter. Finally, Commerce Bank lifted its stake in shares of PTC by 557.8% in the 4th quarter. Commerce Bank now owns 311,841 shares of the technology company’s stock valued at $57,338,000 after acquiring an additional 264,437 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

PTC Price Performance

PTC stock opened at $171.47 on Thursday. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $203.09. The company’s 50 day moving average price is $154.09 and its two-hundred day moving average price is $174.31. 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 stock has a market cap of $20.57 billion, a P/E ratio of 52.92, a P/E/G ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.37 by $0.42. PTC had a net margin of 16.95% and a return on equity of 14.49%. The firm had revenue of $636.37 million for the quarter, compared to analysts’ expectations of $608.64 million. During the same quarter last year, the firm earned $1.46 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on PTC shares. KeyCorp dropped their price target on PTC from $211.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Robert W. Baird raised their target price on PTC from $185.00 to $191.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Mizuho lowered their target price on PTC from $190.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $160.00 price target (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.15.

Insiders Place Their Bets

In related news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the sale, the executive vice president now owns 17,731 shares of the company’s stock, valued at approximately $2,836,960. The trade was a 10.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Corinna Lathan sold 622 shares of PTC stock in a transaction that occurred on Monday, March 17th. The stock was 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 directly owns 7,604 shares in the company, valued at $1,182,650.12. This trade represents a 7.56% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

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.