Commerce Bank Sells 2,894 Shares of PTC Inc. (NASDAQ:PTC)

Commerce Bank lessened its holdings in PTC Inc. (NASDAQ:PTC) by 6.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,765 shares of the technology company’s stock after selling 2,894 shares during the period. Commerce Bank’s holdings in PTC were worth $8,080,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Coldstream Capital Management Inc. lifted its position in shares of PTC by 2.1% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,615 shares of the technology company’s stock valued at $458,000 after buying an additional 55 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of PTC by 3.1% in the first quarter. Fifth Third Bancorp now owns 2,165 shares of the technology company’s stock worth $409,000 after purchasing an additional 65 shares in the last quarter. Fidelis Capital Partners LLC lifted its stake in shares of PTC by 5.4% during the 1st quarter. Fidelis Capital Partners LLC now owns 1,454 shares of the technology company’s stock valued at $275,000 after buying an additional 74 shares in the last quarter. US Bancorp DE grew its stake in PTC by 0.8% in the 4th quarter. US Bancorp DE now owns 9,931 shares of the technology company’s stock valued at $1,738,000 after buying an additional 77 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its holdings in PTC by 4.7% during the 4th quarter. First Trust Direct Indexing L.P. now owns 1,797 shares of the technology company’s stock worth $314,000 after purchasing an additional 81 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Insider Buying and Selling

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

PTC Price Performance

Shares of PTC stock opened at $177.12 on Thursday. The firm has a market cap of $21.20 billion, a PE ratio of 73.93, a price-to-earnings-growth ratio of 3.52 and a beta of 1.18. The company’s fifty day simple moving average is $178.56 and its two-hundred day simple moving average is $179.52. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.51. PTC Inc. has a 12-month low of $134.61 and a 12-month high of $194.24.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PTC shares. Mizuho reiterated a “neutral” rating and set a $190.00 price target (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Barclays raised their target price on shares of PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price target on shares of PTC in a research note on Friday, April 12th. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Finally, Citigroup reduced their target price on PTC from $195.00 to $187.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.73.

PTC Company Profile

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.