PNC Financial Services Group Inc. Buys 113 Shares of PTC Inc. (NASDAQ:PTC)

PNC Financial Services Group Inc. boosted its stake in PTC Inc. (NASDAQ:PTC) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,612 shares of the technology company’s stock after purchasing an additional 113 shares during the quarter. PNC Financial Services Group Inc.’s holdings in PTC were worth $807,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PTC. Vanguard Group Inc. grew its stake in PTC by 6.6% in the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock valued at $1,965,137,000 after acquiring an additional 859,227 shares during the period. Wellington Management Group LLP grew its stake in PTC by 1,409.3% in the fourth quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock valued at $294,006,000 after acquiring an additional 1,569,081 shares during the period. Northern Trust Corp grew its stake in PTC by 15.6% in the third quarter. Northern Trust Corp now owns 1,252,741 shares of the technology company’s stock valued at $177,488,000 after acquiring an additional 168,917 shares during the period. Franklin Resources Inc. grew its stake in PTC by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 1,192,272 shares of the technology company’s stock valued at $208,600,000 after acquiring an additional 13,468 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of PTC by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,037,724 shares of the technology company’s stock worth $181,560,000 after buying an additional 26,761 shares during the period. Institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PTC shares. Mizuho reaffirmed a “neutral” rating and set a $190.00 price objective (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Robert W. Baird upped their price objective on PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research report on Friday, June 7th. Citigroup reduced 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. Finally, Barclays upped their price objective on PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $199.73.

Insider Buying and Selling at PTC

In other news, COO Michael Ditullio sold 6,592 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 53,148 shares in the company, valued at $9,734,056.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Catherine Kniker sold 1,254 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was 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 in the company, valued at $2,358,573.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michael Ditullio sold 6,592 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $183.15, for a total value of $1,207,324.80. Following the transaction, the chief operating officer now owns 53,148 shares in the company, valued at approximately $9,734,056.20. The disclosure for this sale can be found here. Insiders have sold 11,846 shares of company stock worth $2,137,631 over the last 90 days. Company insiders own 1.17% of the company’s stock.

PTC Price Performance

NASDAQ:PTC opened at $177.60 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average price is $177.84 and its two-hundred day moving average price is $178.65. The firm has a market capitalization of $21.26 billion, a price-to-earnings ratio of 74.31, a P/E/G ratio of 3.31 and a beta of 1.18. PTC Inc. has a 12-month low of $134.61 and a 12-month high of $194.24.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.23. The firm had revenue of $603.07 million for the quarter, compared to analyst estimates of $575.53 million. PTC had a return on equity of 13.76% and a net margin of 12.84%. On average, analysts anticipate that PTC Inc. will post 3.48 earnings per share 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.