Granite Investment Partners LLC Sells 38,365 Shares of PTC Inc. (NASDAQ:PTC)

Granite Investment Partners LLC lessened its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 65.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,868 shares of the technology company's stock after selling 38,365 shares during the period. Granite Investment Partners LLC's holdings in PTC were worth $3,653,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PTC. HighTower Advisors LLC increased its stake in PTC by 47.6% during the 3rd quarter. HighTower Advisors LLC now owns 6,199 shares of the technology company's stock valued at $1,117,000 after purchasing an additional 2,000 shares in the last quarter. Quantinno Capital Management LP lifted its position in PTC by 19.5% in the 3rd quarter. Quantinno Capital Management LP now owns 2,826 shares of the technology company's stock valued at $511,000 after acquiring an additional 462 shares in the last quarter. Stifel Financial Corp boosted its stake in PTC by 18.7% during the 3rd quarter. Stifel Financial Corp now owns 9,449 shares of the technology company's stock valued at $1,707,000 after purchasing an additional 1,487 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in PTC by 30.8% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 5,651 shares of the technology company's stock worth $1,021,000 after purchasing an additional 1,332 shares in the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of PTC by 67.0% in the third quarter. MML Investors Services LLC now owns 3,181 shares of the technology company's stock valued at $575,000 after purchasing an additional 1,276 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on PTC shares. KeyCorp lowered their price target on PTC from $211.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 price objective on shares of PTC in a research note on Tuesday, February 4th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $160.00 target price (down previously from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Mizuho cut their price objective on PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, BMO Capital Markets lowered their target price on PTC from $220.00 to $183.00 and set an "outperform" rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $195.67.

Insider Transactions at PTC

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 sale, the director now directly owns 7,604 shares in the company, valued at approximately $1,182,650.12. This trade represents a 7.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.32% of the company's stock.

PTC Price Performance

Shares of PTC stock traded down $0.42 during trading on Friday, hitting $143.56. The stock had a trading volume of 655,600 shares, compared to its average volume of 873,851. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $203.09. The business's 50-day moving average is $156.63 and its 200 day moving average is $177.37. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The firm has a market cap of $17.27 billion, a price-to-earnings ratio of 44.31, a P/E/G ratio of 2.27 and a beta of 1.17.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings results 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 net margin of 16.95% and a return on equity of 14.49%. As a group, sell-side analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current year.

PTC 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.