Stephens Investment Management Group LLC Sells 24,612 Shares of PTC Inc. $PTC

Stephens Investment Management Group LLC lowered its holdings in PTC Inc. (NASDAQ:PTC) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 342,496 shares of the technology company’s stock after selling 24,612 shares during the quarter. Stephens Investment Management Group LLC’s holdings in PTC were worth $69,534,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Campbell Newman Asset Management Inc. boosted its holdings in PTC by 0.4% during the third quarter. Campbell Newman Asset Management Inc. now owns 12,147 shares of the technology company’s stock valued at $2,466,000 after purchasing an additional 49 shares in the last quarter. Diversified Trust Co lifted its position in shares of PTC by 2.5% during the 3rd quarter. Diversified Trust Co now owns 2,209 shares of the technology company’s stock worth $448,000 after buying an additional 53 shares during the period. Versant Capital Management Inc boosted its stake in PTC by 37.6% in the 3rd quarter. Versant Capital Management Inc now owns 194 shares of the technology company’s stock valued at $39,000 after buying an additional 53 shares in the last quarter. Archford Capital Strategies LLC boosted its stake in PTC by 1.4% in the 3rd quarter. Archford Capital Strategies LLC now owns 4,695 shares of the technology company’s stock valued at $953,000 after buying an additional 63 shares in the last quarter. Finally, Bellecapital International Ltd. grew its position in PTC by 4.3% in the second quarter. Bellecapital International Ltd. now owns 1,604 shares of the technology company’s stock valued at $276,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PTC. BMO Capital Markets cut their price objective on PTC from $231.00 to $219.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Rosenblatt Securities dropped their target price on shares of PTC from $227.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Robert W. Baird set a $255.00 price target on shares of PTC in a report on Wednesday, October 22nd. Zacks Research cut shares of PTC from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Wall Street Zen raised shares of PTC from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.92.

PTC Stock Down 0.1%

Shares of NASDAQ:PTC opened at $166.75 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The firm has a market cap of $19.83 billion, a P/E ratio of 27.16, a P/E/G ratio of 2.78 and a beta of 1.01. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $219.69. The company’s 50-day moving average price is $174.31 and its two-hundred day moving average price is $192.59.

PTC (NASDAQ:PTC) last announced its earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share (EPS) for the quarter. PTC had a net margin of 27.05% and a return on equity of 23.02%. The company had revenue of $1.76 billion for the quarter. As a group, research analysts forecast that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insider Buying and Selling at PTC

In other news, EVP Staats Aaron C. Von sold 6,328 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the transaction, the executive vice president owned 22,461 shares of the company’s stock, valued at $3,925,958.19. This represents a 21.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kristian Talvitie sold 50,291 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total value of $8,707,383.74. Following the completion of the transaction, the executive vice president owned 12,386 shares in the company, valued at approximately $2,144,512.04. This represents a 80.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 61,277 shares of company stock worth $10,624,076. Company insiders own 0.29% of the company’s stock.

PTC Company Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.