Nippon Life Global Investors Americas Inc. Sells 38,900 Shares of PTC Inc. (NASDAQ:PTC)

Nippon Life Global Investors Americas Inc. lessened its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 83.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,730 shares of the technology company's stock after selling 38,900 shares during the quarter. Nippon Life Global Investors Americas Inc.'s holdings in PTC were worth $1,421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PTC. Bank Julius Baer & Co. Ltd Zurich raised its position in PTC by 5.0% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,199 shares of the technology company's stock worth $39,212,000 after purchasing an additional 9,893 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in PTC by 33.7% in the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company's stock valued at $97,193,000 after acquiring an additional 135,677 shares during the last quarter. Oak Thistle LLC acquired a new stake in PTC in the fourth quarter worth about $1,113,000. Proficio Capital Partners LLC acquired a new position in PTC during the 4th quarter valued at about $8,858,000. Finally, Avantax Advisory Services Inc. bought a new position in shares of PTC in the 4th quarter valued at about $223,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PTC

In other news, Director Corinna Lathan sold 622 shares of the firm's 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 sale, the director now directly owns 7,604 shares of the company's stock, valued at $1,182,650.12. This trade represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

PTC has been the topic of a number of recent research reports. Barclays reduced their price objective on shares of PTC from $215.00 to $175.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Robert W. Baird increased their target price on PTC from $181.00 to $185.00 and gave the company an "outperform" rating in a research note on Tuesday. Citigroup lowered their price target on PTC from $200.00 to $195.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. KeyCorp lowered their target price on shares of PTC from $211.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $204.00 price target on shares of PTC in a report on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $190.38.

PTC Stock Up 1.6 %

Shares of PTC stock traded up $2.39 during trading hours on Friday, reaching $154.03. 1,016,811 shares of the company's stock were exchanged, compared to its average volume of 875,667. 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 company has a 50 day moving average of $154.76 and a two-hundred day moving average of $176.48. The stock has a market cap of $18.53 billion, a P/E ratio of 47.54, a P/E/G ratio of 2.27 and a beta of 1.17. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $203.09.

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

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.