Southeast Asset Advisors LLC Cuts Stake in PTC Inc. (NASDAQ:PTC)

Southeast Asset Advisors LLC lessened its position in PTC Inc. (NASDAQ:PTC) by 10.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,193 shares of the technology company’s stock after selling 694 shares during the quarter. Southeast Asset Advisors LLC’s holdings in PTC were worth $1,139,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of PTC in the 4th quarter worth $146,712,000. Norges Bank acquired a new stake in shares of PTC in the fourth quarter valued at $128,852,000. Vanguard Group Inc. raised its holdings in shares of PTC by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock valued at $2,627,961,000 after buying an additional 240,080 shares during the period. JPMorgan Chase & Co. increased its stake in PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after purchasing an additional 135,677 shares during the period. Finally, State Street Corp lifted its holdings in PTC by 2.7% during the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after buying an additional 133,370 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Stock Down 6.5 %

Shares of NASDAQ PTC opened at $139.77 on Monday. PTC Inc. has a 52 week low of $135.46 and a 52 week high of $203.09. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $16.82 billion, a price-to-earnings ratio of 43.14, a price-to-earnings-growth ratio of 2.27 and a beta of 1.17. The firm has a 50-day moving average price of $166.16 and a 200 day moving average price of $180.28.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Equities research analysts anticipate that PTC Inc. will post 4.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on PTC. Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 target price on shares of PTC in a report on Tuesday, February 4th. Stifel Nicolaus raised their price objective on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Citigroup decreased their price objective on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Finally, KeyCorp increased their price objective on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

Insider Activity at PTC

In other PTC news, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction 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 directly 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 legal filing with the SEC, which is accessible through this link. 0.32% of the stock is owned by corporate insiders.

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.