Clearbridge Investments LLC Grows Position in PTC Inc. (NASDAQ:PTC)

Clearbridge Investments LLC raised its position in PTC Inc. (NASDAQ:PTC - Free Report) by 54.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,619 shares of the technology company's stock after purchasing an additional 62,008 shares during the quarter. Clearbridge Investments LLC owned 0.15% of PTC worth $32,475,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PTC. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of PTC by 5.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,199 shares of the technology company's stock valued at $39,212,000 after purchasing an additional 9,893 shares in the last quarter. JPMorgan Chase & Co. boosted its position in PTC by 33.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company's stock valued at $97,193,000 after buying an additional 135,677 shares during the period. Oak Thistle LLC acquired a new position in shares of PTC in the fourth quarter worth $1,113,000. Proficio Capital Partners LLC purchased a new stake in shares of PTC during the fourth quarter worth $8,858,000. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of PTC in the fourth quarter valued at $223,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PTC has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on shares of PTC from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Citigroup dropped their price objective on shares of PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. StockNews.com cut shares of PTC from a "buy" rating to a "hold" rating in a research report on Monday, March 17th. Rosenblatt Securities reissued a "buy" rating and issued a $204.00 target price on shares of PTC in a report on Tuesday, February 4th. Finally, KeyCorp raised their price target on PTC from $205.00 to $211.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $210.09.

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PTC Stock Performance

PTC traded down $9.76 during trading on Friday, hitting $139.77. 1,244,232 shares of the stock were exchanged, compared to its average volume of 862,770. The firm has a market capitalization of $16.82 billion, a P/E ratio of 43.14, a PEG ratio of 2.27 and a beta of 1.17. PTC Inc. has a 1-year low of $139.66 and a 1-year high of $203.09. The stock has a fifty day moving average price of $166.16 and a two-hundred day moving average price of $180.28. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS 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%. As a group, sell-side analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Transactions at PTC

In related news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the transaction, the director now directly owns 7,604 shares in the company, valued at $1,182,650.12. This trade represents a 7.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.32% of the company's stock.

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.