PTC Inc. (NASDAQ:PTC) Holdings Reduced by American International Group Inc.

American International Group Inc. lessened its holdings in shares of PTC Inc. (NASDAQ:PTC) by 9.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 32,500 shares of the technology company’s stock after selling 3,416 shares during the quarter. American International Group Inc.’s holdings in PTC were worth $5,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in PTC during the 4th quarter valued at about $606,000. V Square Quantitative Management LLC increased its stake in shares of PTC by 23.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,615 shares of the technology company’s stock valued at $458,000 after acquiring an additional 504 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in PTC by 25.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 834,820 shares of the technology company’s stock worth $146,061,000 after purchasing an additional 169,592 shares in the last quarter. Okabena Investment Services Inc. acquired a new stake in PTC in the fourth quarter worth approximately $603,000. Finally, Grayhawk Investment Strategies Inc. acquired a new stake in PTC in the fourth quarter worth approximately $759,000. Institutional investors own 95.14% of the company’s stock.

Insider Activity at PTC

In related news, insider Catherine Kniker sold 1,254 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total transaction of $217,506.30. Following the transaction, the insider now owns 13,598 shares of the company’s stock, valued at $2,358,573.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Michael Ditullio sold 6,592 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the completion of the sale, the chief operating officer now owns 53,148 shares in the company, valued at approximately $9,734,056.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Catherine Kniker sold 1,254 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total value of $217,506.30. Following the completion of the transaction, the insider now directly owns 13,598 shares in the company, valued at $2,358,573.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,846 shares of company stock valued at $2,137,631. 1.17% of the stock is owned by corporate insiders.

PTC Price Performance

NASDAQ PTC opened at $177.21 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $21.21 billion, a price-to-earnings ratio of 74.15, a price-to-earnings-growth ratio of 3.25 and a beta of 1.18. The company has a 50 day simple moving average of $177.85 and a 200-day simple moving average of $178.30. PTC Inc. has a 52-week low of $134.61 and a 52-week high of $194.24.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.23. PTC had a net margin of 12.84% and a return on equity of 13.76%. The company had revenue of $603.07 million during the quarter, compared to the consensus estimate of $575.53 million. Equities research analysts predict that PTC Inc. will post 3.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PTC shares. Mizuho reiterated a “neutral” rating and issued a $190.00 price target (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Robert W. Baird increased their target price on shares of PTC from $210.00 to $216.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Rosenblatt Securities restated a “buy” rating and set a $195.00 target price on shares of PTC in a report on Friday, April 12th. Barclays upped their price target on PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Citigroup cut their price objective on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, PTC has an average rating of “Moderate Buy” and a consensus price target of $199.73.

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.