Kayne Anderson Rudnick Investment Management LLC Lowers Stake in PTC Inc. (NASDAQ:PTC)

Kayne Anderson Rudnick Investment Management LLC reduced its position in PTC Inc. (NASDAQ:PTC - Free Report) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,788 shares of the technology company's stock after selling 8,867 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.20% of PTC worth $43,170,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in PTC in the fourth quarter valued at approximately $30,000. Allworth Financial LP increased its holdings in shares of PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company's stock worth $35,000 after buying an additional 69 shares during the last quarter. Assetmark Inc. raised its position in shares of PTC by 825.0% during the 4th quarter. Assetmark Inc. now owns 333 shares of the technology company's stock valued at $61,000 after buying an additional 297 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of PTC during the 4th quarter worth $77,000. Finally, Smartleaf Asset Management LLC increased its stake in PTC by 83.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company's stock valued at $83,000 after acquiring an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

PTC Stock Up 2.7 %

NASDAQ:PTC traded up $3.94 during mid-day trading on Thursday, hitting $151.64. 787,431 shares of the company's stock were exchanged, compared to its average volume of 875,416. The business has a fifty day moving average price of $155.15 and a 200 day moving average price of $176.66. PTC Inc. has a one year low of $133.38 and a one year high of $203.09. The company has a market cap of $18.25 billion, a PE ratio of 46.80, a P/E/G ratio of 2.27 and a beta of 1.17. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69.

PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results 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 net margin of 16.95% and a return on equity of 14.49%. Equities analysts predict that PTC Inc. will post 4.46 EPS for the current year.

Insider Activity at PTC

In related news, Director Corinna Lathan sold 622 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were 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 in the company, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PTC has been the subject of a number of research reports. Citigroup cut their price objective on PTC from $200.00 to $195.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. restated a "neutral" rating and set a $160.00 price target (down from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Barclays cut their target price on shares of PTC from $215.00 to $175.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. BMO Capital Markets lowered their price target on shares of PTC from $220.00 to $183.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Finally, Robert W. Baird raised their price target on shares of PTC from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $192.08.

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.