Commerce Bank Has $57.34 Million Position in PTC Inc. (NASDAQ:PTC)

Commerce Bank lifted its position in PTC Inc. (NASDAQ:PTC - Free Report) by 557.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 311,841 shares of the technology company's stock after purchasing an additional 264,437 shares during the quarter. Commerce Bank owned 0.26% of PTC worth $57,338,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich grew its holdings in PTC by 5.0% during 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 acquiring an additional 9,893 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company's stock valued at $97,193,000 after purchasing an additional 135,677 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of PTC in the fourth quarter valued at approximately $1,113,000. Proficio Capital Partners LLC bought a new position in PTC in the 4th quarter worth approximately $8,858,000. Finally, Avantax Advisory Services Inc. acquired a new position in PTC during the 4th quarter worth $223,000. Institutional investors and hedge funds own 95.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PTC shares. Mizuho lowered their target price on PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. BMO Capital Markets dropped their price objective on PTC from $220.00 to $183.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. StockNews.com lowered shares of PTC from a "buy" rating to a "hold" rating in a research note on Monday, March 17th. Rosenblatt Securities reissued a "buy" rating and set a $204.00 price target on shares of PTC in a research note on Tuesday, February 4th. Finally, Citigroup reduced their price objective on shares of PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.08.

Insider Activity

In related news, Director Corinna Lathan sold 622 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company's stock.

PTC Stock Up 3.0 %

Shares of PTC traded up $4.34 on Wednesday, hitting $148.15. The company's stock had a trading volume of 235,029 shares, compared to its average volume of 871,442. The firm's fifty day moving average price is $155.61 and its 200-day moving average price is $176.86. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $203.09. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $17.83 billion, a price-to-earnings ratio of 45.73, 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 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%. On average, equities research analysts expect that PTC Inc. will post 4.46 EPS 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.