Allstate Corp Takes $649,000 Position in PTC Inc. (NASDAQ:PTC)

Allstate Corp purchased a new position in PTC Inc. (NASDAQ:PTC) during the fourth quarter, HoldingsChannel reports. The firm purchased 3,532 shares of the technology company’s stock, valued at approximately $649,000.

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP increased its position in PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after acquiring an additional 69 shares during the last quarter. Assetmark Inc. grew its stake in shares of PTC by 825.0% during the 4th quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock valued at $61,000 after purchasing an additional 297 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of PTC during the 4th quarter valued at about $77,000. Smartleaf Asset Management LLC lifted its stake in shares of PTC by 83.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock worth $83,000 after purchasing an additional 205 shares during the period. Finally, Sentry Investment Management LLC purchased a new position in shares of PTC in the fourth quarter worth approximately $84,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PTC has been the subject of a number of recent research reports. StockNews.com downgraded shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. JPMorgan Chase & Co. upped their price target on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Stifel Nicolaus lifted 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. Rosenblatt Securities reiterated a “buy” rating and set a $204.00 price objective on shares of PTC in a research note on Tuesday, February 4th. Finally, Citigroup decreased their target price on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.09.

Insider Buying and Selling

In other news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the transaction, the director now owns 7,604 shares in the company, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by company insiders.

PTC Stock Up 0.1 %

NASDAQ PTC opened at $154.95 on Tuesday. The stock has a 50 day moving average price of $169.18 and a 200-day moving average price of $180.94. PTC Inc. has a one year low of $151.80 and a one year high of $203.09. The company has a market capitalization of $18.64 billion, a P/E ratio of 47.82, a P/E/G ratio of 2.27 and a beta of 1.22. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. As a group, equities analysts predict that PTC Inc. will post 4.46 EPS for the current fiscal 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.