Prudential Financial Inc. Sells 8,241 Shares of PTC Inc. (NASDAQ:PTC)

Prudential Financial Inc. lowered its position in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 11.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 62,749 shares of the technology company's stock after selling 8,241 shares during the period. Prudential Financial Inc. owned 0.05% of PTC worth $11,538,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Allworth Financial LP raised its stake in PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company's stock valued at $35,000 after acquiring an additional 69 shares in the last quarter. Assetmark Inc. raised its stake in shares of PTC by 825.0% during the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company's stock valued at $61,000 after purchasing an additional 297 shares in the last quarter. Brooklyn Investment Group acquired a new stake in PTC in the third quarter worth about $66,000. Smartleaf Asset Management LLC grew its position in PTC by 83.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company's stock valued at $83,000 after buying an additional 205 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new position in PTC during the 4th quarter valued at about $84,000. Institutional investors and hedge funds own 95.14% of the company's stock.

Insider Buying and Selling at PTC

In other news, Director Corinna Lathan sold 622 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company's stock.

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Wall Street Analysts Forecast Growth

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

PTC Stock Up 0.2 %

NASDAQ:PTC traded up $0.28 during trading hours on Wednesday, hitting $156.48. 108,175 shares of the stock traded hands, compared to its average volume of 1,084,313. The firm has a 50 day moving average price of $168.55 and a 200 day moving average price of $180.83. The firm has a market cap of $18.83 billion, a price-to-earnings ratio of 48.28, a PEG ratio of 2.27 and a beta of 1.22. PTC Inc. has a fifty-two week low of $151.80 and a fifty-two week high of $203.09. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. Equities research 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.