PTC Inc. (NASDAQ:PTC) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC lowered its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 32.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,776 shares of the technology company's stock after selling 6,502 shares during the quarter. WCM Investment Management LLC's holdings in PTC were worth $2,530,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Entropy Technologies LP purchased a new stake in PTC in the fourth quarter valued at approximately $1,450,000. Empowered Funds LLC boosted its position in PTC by 13.0% in the fourth quarter. Empowered Funds LLC now owns 2,423 shares of the technology company's stock valued at $446,000 after buying an additional 279 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in PTC in the fourth quarter valued at approximately $3,150,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in PTC by 23.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,315 shares of the technology company's stock valued at $3,000,000 after buying an additional 3,101 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in PTC by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 805,663 shares of the technology company's stock valued at $148,137,000 after buying an additional 22,586 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Insider Activity

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the 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 of the company's stock, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alice Christenson sold 1,703 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the transaction, the chief accounting officer now directly owns 830 shares of the company's stock, valued at approximately $160,356. This represents a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock worth $3,630,716 in the last quarter. Corporate insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

PTC has been the topic of a number of recent research reports. Royal Bank of Canada upped their target price on PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 target price on shares of PTC in a research report on Tuesday, February 4th. KeyCorp upped their target price on PTC from $205.00 to $211.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Berenberg Bank lowered PTC from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price objective on PTC from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.09.

PTC Price Performance

Shares of NASDAQ:PTC traded up $3.17 during midday trading on Friday, reaching $171.10. 1,445,065 shares of the company's stock traded hands, compared to its average volume of 1,127,272. PTC Inc. has a 1 year low of $163.30 and a 1 year high of $203.09. The company has a market cap of $20.59 billion, a P/E ratio of 52.81, a PEG ratio of 2.33 and a beta of 1.19. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.78 and a current ratio of 1.23. The company has a fifty day simple moving average of $186.70 and a two-hundred day simple moving average of $183.39.

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 analysts' consensus estimates 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 4.62 EPS for the current fiscal 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.