WCM Investment Management LLC Sells 6,502 Shares of PTC Inc. (NASDAQ:PTC)

WCM Investment Management LLC lowered its stake in PTC Inc. (NASDAQ:PTC) by 32.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,776 shares of the technology company’s stock after selling 6,502 shares during the period. WCM Investment Management LLC’s holdings in PTC were worth $2,530,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PTC. Covestor Ltd lifted its stake in shares of PTC by 70.8% in the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after purchasing an additional 80 shares during the period. Brooklyn Investment Group bought a new position in PTC in the third quarter worth $66,000. Blue Trust Inc. lifted its position in PTC by 473.9% during the third quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock valued at $144,000 after buying an additional 654 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of PTC during the 3rd quarter valued at $152,000. Finally, Signaturefd LLC grew its position in shares of PTC by 9.3% in the 3rd quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock worth $162,000 after buying an additional 76 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Trading Down 0.4 %

Shares of NASDAQ:PTC opened at $168.42 on Tuesday. PTC Inc. has a 1 year low of $163.30 and a 1 year high of $203.09. The stock’s fifty day moving average price is $189.31 and its 200-day moving average price is $183.70. The company has a market cap of $20.27 billion, a P/E ratio of 51.98, a PEG ratio of 2.33 and a beta of 1.19. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.23 and a quick ratio of 0.78.

PTC (NASDAQ:PTC) last posted its 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%. Sell-side analysts expect that PTC Inc. will post 4.62 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the completion of the sale, the director now owns 6,843 shares of the company’s stock, valued at $1,368,600. This represents a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the transaction, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. The trade was a 67.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,242 shares of company stock worth $3,630,716. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Berenberg Bank downgraded 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 research note on Friday, November 1st. Citigroup lowered their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada boosted their target price on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.09.

PTC 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.