Rice Hall James & Associates LLC Sells 10,865 Shares of PTC Inc. (NASDAQ:PTC)

Rice Hall James & Associates LLC lessened its holdings in shares of PTC Inc. (NASDAQ:PTC) by 34.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,248 shares of the technology company’s stock after selling 10,865 shares during the quarter. Rice Hall James & Associates LLC’s holdings in PTC were worth $3,723,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Covestor Ltd increased its stake in PTC by 70.8% in the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after acquiring an additional 80 shares during the last quarter. Allworth Financial LP increased its stake in PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares during the last quarter. Brooklyn Investment Group bought a new stake in PTC in the 3rd quarter worth approximately $66,000. Blue Trust Inc. increased its stake in PTC by 473.9% in the 3rd quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock worth $144,000 after acquiring an additional 654 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in PTC in the 3rd quarter worth approximately $152,000. Institutional investors own 95.14% of the company’s stock.

Insider Activity at PTC

In other PTC news, CFO Kristian Talvitie sold 10,306 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the completion of the sale, the chief financial officer now directly owns 57,134 shares in the company, valued at approximately $11,389,091.56. This represents a 15.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the sale, the executive vice president now owns 21,707 shares of the company’s stock, valued at $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock worth $3,630,716 in the last quarter. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on PTC shares. Citigroup reduced their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada lifted their price objective on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their target price on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 target price on shares of PTC in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lifted their target price on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.09.

PTC Price Performance

PTC opened at $170.79 on Wednesday. The business has a fifty day moving average of $185.53 and a 200 day moving average of $183.41. PTC Inc. has a 52-week low of $163.30 and a 52-week high of $203.09. 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 $20.55 billion, a P/E ratio of 52.71, a PEG ratio of 2.34 and a beta of 1.19.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. As a group, sell-side analysts anticipate that PTC Inc. will post 4.46 EPS for the current year.

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.