Prudential Financial Inc. Sells 8,241 Shares of PTC Inc. (NASDAQ:PTC)

Prudential Financial Inc. lowered its stake in PTC Inc. (NASDAQ:PTC) by 11.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,749 shares of the technology company’s stock after selling 8,241 shares during the quarter. Prudential Financial Inc. owned about 0.05% of PTC worth $11,538,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in PTC in the 4th quarter worth approximately $146,712,000. D1 Capital Partners L.P. purchased a new stake in shares of PTC in the third quarter worth $84,549,000. Vanguard Group Inc. raised its position in shares of PTC by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock valued at $2,627,961,000 after purchasing an additional 240,080 shares during the period. JPMorgan Chase & Co. boosted its holdings in PTC by 33.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after buying an additional 135,677 shares during the period. Finally, State Street Corp boosted its holdings in PTC by 2.7% in 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 period. Institutional investors own 95.14% of the company’s stock.

Insider Activity

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 directly owns 7,604 shares in the company, valued at approximately $1,182,650.12. This represents a 7.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

PTC has been the topic of several research analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $204.00 price objective on shares of PTC in a research report on Tuesday, February 4th. KeyCorp upped their price target on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Citigroup reduced their price objective on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Stifel Nicolaus upped their target price on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.09.

PTC Trading Down 3.4 %

Shares of NASDAQ PTC opened at $154.80 on Friday. PTC Inc. has a 1-year low of $151.80 and a 1-year high of $203.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The business’s 50 day moving average is $169.84 and its two-hundred day moving average is $180.87. The stock has a market capitalization of $18.63 billion, a P/E ratio of 47.78, a PEG ratio of 2.27 and a beta of 1.22.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share 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%. As a group, research analysts expect 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.