Metis Global Partners LLC Cuts Stake in PTC Inc. (NASDAQ:PTC)

Metis Global Partners LLC lowered its position in shares of PTC Inc. (NASDAQ:PTC) by 2.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,496 shares of the technology company’s stock after selling 159 shares during the period. Metis Global Partners LLC’s holdings in PTC were worth $1,194,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. State Street Corp raised its position in PTC by 2.7% during the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after buying an additional 133,370 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of PTC by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock valued at $533,341,000 after purchasing an additional 37,645 shares in the last quarter. Fernbridge Capital Management LP increased its holdings in shares of PTC by 83.7% in the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after purchasing an additional 650,990 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of PTC by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after purchasing an additional 30,525 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of PTC by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after purchasing an additional 150,652 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction that occurred on Monday, December 9th. The shares were 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 directly owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. The trade was a 19.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PTC shares. Citigroup cut their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. increased their price target on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. KeyCorp increased their price target on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Royal Bank of Canada increased their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $204.00 price objective on shares of PTC in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Price Performance

PTC stock opened at $160.56 on Tuesday. PTC Inc. has a 12-month low of $159.56 and a 12-month high of $203.09. The firm’s 50-day moving average is $179.48 and its two-hundred day moving average is $182.95. The stock has a market capitalization of $19.32 billion, a P/E ratio of 49.56, a P/E/G ratio of 2.27 and a beta of 1.19. 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 (NASDAQ:PTC) last released its earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. Equities analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

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.