Prudential PLC Has $8.21 Million Holdings in PTC Inc. (NASDAQ:PTC)

Prudential PLC cut its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 25.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,649 shares of the technology company's stock after selling 15,140 shares during the period. Prudential PLC's holdings in PTC were worth $8,210,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PTC. Bank Pictet & Cie Europe AG lifted its stake in shares of PTC by 1.4% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company's stock valued at $722,000 after acquiring an additional 55 shares during the period. Wedmont Private Capital lifted its position in PTC by 1.6% during the 4th quarter. Wedmont Private Capital now owns 4,026 shares of the technology company's stock valued at $734,000 after purchasing an additional 64 shares during the period. Allworth Financial LP boosted its stake in shares of PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company's stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. Otter Creek Advisors LLC grew its position in shares of PTC by 0.4% during the 4th quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company's stock worth $3,527,000 after buying an additional 80 shares during the period. Finally, Kirtland Hills Capital Management LLC raised its stake in shares of PTC by 3.2% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 2,948 shares of the technology company's stock worth $542,000 after buying an additional 91 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup cut their price target on PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Rosenblatt Securities restated a "buy" rating and set a $204.00 target price on shares of PTC in a research report on Tuesday, February 4th. KeyCorp increased their price target on shares of PTC from $205.00 to $211.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. restated a "neutral" rating and set a $160.00 price objective (down previously from $210.00) on shares of PTC in a report on Wednesday. Finally, StockNews.com lowered shares of PTC from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $205.55.

PTC Stock Performance

Shares of PTC traded down $7.05 during mid-day trading on Thursday, reaching $142.19. The company's stock had a trading volume of 251,705 shares, compared to its average volume of 870,184. 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 stock has a market cap of $17.11 billion, a P/E ratio of 43.87, a PEG ratio of 2.27 and a beta of 1.17. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $203.09. The business has a 50-day simple moving average of $161.31 and a two-hundred day simple moving average of $179.02.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly 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%. As a group, equities research analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Activity at PTC

In other news, Director Corinna Lathan sold 622 shares of PTC 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 sale, the director now directly owns 7,604 shares of the company's stock, valued at approximately $1,182,650.12. This trade represents a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.32% of the stock is currently owned by 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.