Gotham Asset Management LLC Buys 2,407 Shares of PTC Inc. (NASDAQ:PTC)

Gotham Asset Management LLC raised its stake in shares of PTC Inc. (NASDAQ:PTC) by 58.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,529 shares of the technology company’s stock after buying an additional 2,407 shares during the quarter. Gotham Asset Management LLC’s holdings in PTC were worth $1,200,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich boosted its stake in PTC by 5.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,199 shares of the technology company’s stock valued at $39,212,000 after buying an additional 9,893 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of PTC in the 4th quarter valued at about $8,858,000. Avantax Advisory Services Inc. bought a new stake in shares of PTC during the 4th quarter valued at about $223,000. Jones Financial Companies Lllp grew its holdings in shares of PTC by 1,140.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the technology company’s stock worth $84,000 after purchasing an additional 422 shares in the last quarter. Finally, Choreo LLC bought a new position in shares of PTC in the fourth quarter worth approximately $364,000. 95.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Corinna Lathan sold 622 shares of the business’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 owns 7,604 shares in the company, valued at $1,182,650.12. The trade was a 7.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,988 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the sale, the executive vice president now owns 17,731 shares of the company’s stock, valued at $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PTC shares. KeyCorp cut their price target on shares of PTC from $211.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Barclays cut their target price on shares of PTC from $215.00 to $175.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Rosenblatt Securities restated a “buy” rating and set a $204.00 price target on shares of PTC in a research report on Thursday, May 1st. Stifel Nicolaus cut their price objective on PTC from $230.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Citigroup decreased their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.15.

PTC Stock Up 0.6%

Shares of PTC stock opened at $172.91 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. 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 $154.62 and its 200-day moving average price is $174.02. The stock has a market capitalization of $20.74 billion, a price-to-earnings ratio of 53.37, a P/E/G ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.42. The business had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. PTC had a net margin of 16.95% and a return on equity of 14.49%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 EPS. Equities research analysts forecast that PTC Inc. will post 4.46 EPS 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.