Rice Hall James & Associates LLC Sells 10,865 Shares of PTC Inc. (NASDAQ:PTC)

Rice Hall James & Associates LLC decreased its position in PTC Inc. (NASDAQ:PTC) by 34.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,248 shares of the technology company’s stock after selling 10,865 shares during the quarter. Rice Hall James & Associates LLC’s holdings in PTC were worth $3,723,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of PTC by 1.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,214 shares of the technology company’s stock valued at $2,387,000 after acquiring an additional 242 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of PTC by 473.9% during the third quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock valued at $144,000 after acquiring an additional 654 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of PTC by 8.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,238 shares of the technology company’s stock valued at $1,127,000 after acquiring an additional 493 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of PTC by 5.9% during the third quarter. Sequoia Financial Advisors LLC now owns 1,461 shares of the technology company’s stock valued at $264,000 after acquiring an additional 82 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of PTC by 9.3% during the third quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock valued at $162,000 after acquiring an additional 76 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. KeyCorp raised their price target on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Citigroup dropped their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and dropped their price objective for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Piper Sandler increased their price objective on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus increased their price objective on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Insider Activity

In other news, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the transaction, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at $4,344,221.91. The trade was a 19.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kristian Talvitie sold 10,306 shares of PTC stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $199.34, for a total value of $2,054,398.04. Following the sale, the chief financial officer now directly owns 57,134 shares in the company, valued at $11,389,091.56. This trade represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,242 shares of company stock valued at $3,630,716 in the last ninety days. Corporate insiders own 0.32% of the company’s stock.

PTC Trading Down 0.2 %

Shares of NASDAQ:PTC opened at $170.79 on Wednesday. The stock has a market capitalization of $20.55 billion, a price-to-earnings ratio of 52.71, a PEG ratio of 2.34 and a beta of 1.19. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. The stock’s 50-day simple moving average is $185.53 and its two-hundred day simple moving average is $183.41. PTC Inc. has a 52-week low of $163.30 and a 52-week high of $203.09.

PTC (NASDAQ:PTC) last posted 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 net margin of 16.95% and a return on equity of 14.49%. Analysts expect that PTC Inc. will post 4.46 EPS for the current year.

About PTC

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.