Bank of Montreal Can trimmed its stake in PTC Inc (NASDAQ:PTC) by 7.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 18,102 shares of the technology company’s stock after selling 1,384 shares during the period. Bank of Montreal Can’s holdings in PTC were worth $1,501,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in PTC. Advisors Asset Management Inc. bought a new position in shares of PTC in the 2nd quarter valued at $766,000. First Hawaiian Bank bought a new position in shares of PTC in the 3rd quarter valued at $1,553,000. Aperio Group LLC increased its stake in shares of PTC by 5.4% in the 3rd quarter. Aperio Group LLC now owns 28,908 shares of the technology company’s stock valued at $3,070,000 after purchasing an additional 1,487 shares during the last quarter. Empowered Funds LLC bought a new position in shares of PTC in the 3rd quarter valued at $1,810,000. Finally, Strs Ohio increased its stake in shares of PTC by 30.0% in the 3rd quarter. Strs Ohio now owns 129,120 shares of the technology company’s stock valued at $13,711,000 after purchasing an additional 29,810 shares during the last quarter. 94.49% of the stock is currently owned by institutional investors and hedge funds.
In other PTC news, EVP Staats Aaron C. Von sold 11,907 shares of the company’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $87.62, for a total value of $1,043,291.34. Following the sale, the executive vice president now owns 23,981 shares in the company, valued at approximately $2,101,215.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James E. Heppelmann sold 85,740 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $84.86, for a total value of $7,275,896.40. Following the completion of the sale, the insider now owns 679,391 shares in the company, valued at approximately $57,653,120.26. The disclosure for this sale can be found here. Insiders sold a total of 248,971 shares of company stock worth $21,346,056 in the last quarter. Corporate insiders own 9.91% of the company’s stock.
A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on PTC to $96.00 in a research report on Friday, October 26th. Cowen set a $105.00 price objective on PTC and gave the stock a “buy” rating in a research report on Sunday, October 28th. Wedbush reduced their price objective on PTC from $108.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, January 24th. Deutsche Bank assumed coverage on PTC in a research report on Wednesday, January 16th. They set a “buy” rating and a $115.00 price objective on the stock. Finally, Mitsubishi UFJ Financial Group reduced their price objective on PTC from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Thursday, January 24th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $101.19.
Shares of PTC stock opened at $90.35 on Thursday. The firm has a market cap of $10.42 billion, a P/E ratio of 100.39, a PEG ratio of 2.28 and a beta of 1.26. PTC Inc has a twelve month low of $68.44 and a twelve month high of $107.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.48 and a current ratio of 1.48.
PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, January 23rd. The technology company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. PTC had a return on equity of 12.70% and a net margin of 4.65%. The firm had revenue of $334.96 million for the quarter, compared to analyst estimates of $324.70 million. During the same quarter in the previous year, the company posted $0.31 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Equities research analysts expect that PTC Inc will post 1.09 EPS for the current fiscal year.
PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
Featured Article: Why is the conference call important?
Want to see what other hedge funds are holding PTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PTC Inc (NASDAQ:PTC).
Receive News & Ratings for PTC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC and related companies with MarketBeat.com's FREE daily email newsletter.