Rice Hall James & Associates LLC Sells 10,865 Shares of PTC Inc. (NASDAQ:PTC)

Rice Hall James & Associates LLC trimmed its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 34.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,248 shares of the technology company's stock after selling 10,865 shares during the quarter. Rice Hall James & Associates LLC's holdings in PTC were worth $3,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in PTC. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of PTC by 1.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,214 shares of the technology company's stock worth $2,387,000 after acquiring an additional 242 shares during the last quarter. Blue Trust Inc. increased its holdings in PTC by 473.9% in the third quarter. Blue Trust Inc. now owns 792 shares of the technology company's stock worth $144,000 after purchasing an additional 654 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in PTC by 8.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,238 shares of the technology company's stock worth $1,127,000 after purchasing an additional 493 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in PTC by 5.9% in the third quarter. Sequoia Financial Advisors LLC now owns 1,461 shares of the technology company's stock worth $264,000 after purchasing an additional 82 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in PTC by 9.3% in the third quarter. Signaturefd LLC now owns 894 shares of the technology company's stock worth $162,000 after purchasing an additional 76 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PTC has been the subject of a number of research analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 target price on shares of PTC in a report on Tuesday, February 4th. KeyCorp lifted their target price on PTC from $205.00 to $211.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. StockNews.com upgraded PTC from a "hold" rating to a "buy" rating in a report on Friday. Berenberg Bank downgraded PTC from a "buy" rating to a "hold" rating and decreased their price objective for the company from $210.00 to $196.00 in a report on Friday, November 1st. Finally, Piper Sandler boosted their price objective on PTC from $182.00 to $202.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $210.09.

PTC Stock Down 2.5 %

Shares of NASDAQ:PTC traded down $4.11 during mid-day trading on Friday, hitting $161.65. 902,434 shares of the company traded hands, compared to its average volume of 1,117,583. The stock has a market cap of $19.45 billion, a P/E ratio of 49.89, a P/E/G ratio of 2.33 and a beta of 1.19. 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 Inc. has a 12-month low of $161.02 and a 12-month high of $203.09. The stock has a 50-day moving average price of $183.63 and a two-hundred day moving average price of $183.18.

PTC (NASDAQ:PTC - Get Free Report) last announced 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%. On average, equities research analysts forecast that PTC Inc. will post 4.46 earnings per share for the current year.

Insiders Place Their Bets

In other PTC news, CFO Kristian Talvitie sold 10,306 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the transaction, the chief financial officer now owns 57,134 shares of the company's stock, valued at approximately $11,389,091.56. The trade was a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the transaction, the executive vice president now directly owns 21,707 shares in the company, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,539 shares of company stock valued at $3,301,697. Insiders own 0.32% of the company's stock.

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.