T. Rowe Price Investment Management Inc. Has $3.17 Billion Stake in PTC Inc. (NASDAQ:PTC)

T. Rowe Price Investment Management Inc. increased its stake in PTC Inc. (NASDAQ:PTC) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,264,545 shares of the technology company’s stock after purchasing an additional 1,773,653 shares during the period. PTC makes up approximately 2.0% of T. Rowe Price Investment Management Inc.’s portfolio, making the stock its 4th biggest holding. T. Rowe Price Investment Management Inc. owned approximately 0.14% of PTC worth $3,174,432,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of PTC by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock worth $2,627,961,000 after buying an additional 240,080 shares during the last quarter. Geode Capital Management LLC grew its position in PTC by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company’s stock worth $555,626,000 after acquiring an additional 67,504 shares in the last quarter. Franklin Resources Inc. increased its stake in PTC by 2.9% in the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after acquiring an additional 30,525 shares during the last quarter. FIL Ltd raised its position in PTC by 0.4% during the fourth quarter. FIL Ltd now owns 1,090,175 shares of the technology company’s stock valued at $200,450,000 after purchasing an additional 4,396 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in PTC by 6.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 986,835 shares of the technology company’s stock worth $181,449,000 after purchasing an additional 62,379 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Stock Performance

PTC stock opened at $143.81 on Wednesday. The firm has a 50-day moving average of $155.61 and a 200-day moving average of $176.86. The firm has a market cap of $17.30 billion, a P/E ratio of 44.39, a P/E/G ratio of 2.27 and a beta of 1.17. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $203.09.

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

Analysts Set New Price Targets

Several brokerages have recently commented on PTC. BMO Capital Markets reduced their price objective on PTC from $220.00 to $183.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. KeyCorp reduced their price target on shares of PTC from $211.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Robert W. Baird boosted their price objective on shares of PTC from $181.00 to $185.00 and gave the stock an “outperform” rating in a report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $204.00 price objective on shares of PTC in a research note on Tuesday, February 4th. Finally, Barclays decreased their target price on shares of PTC from $215.00 to $175.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PTC currently has an average rating of “Moderate Buy” and a consensus target price of $192.08.

Insider Buying and Selling at PTC

In other news, Director Corinna Lathan sold 622 shares of PTC 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 sale, the director now owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. The trade was 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.

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.