Prudential Financial Inc. lowered its position in PTC Inc (NASDAQ:PTC) by 39.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,271 shares of the technology company’s stock after selling 42,994 shares during the period. Prudential Financial Inc. owned approximately 0.06% of PTC worth $5,859,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of PTC by 11.9% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,262 shares of the technology company’s stock worth $1,729,000 after acquiring an additional 2,052 shares during the period. Alps Advisors Inc. grew its holdings in PTC by 39.4% during the 2nd quarter. Alps Advisors Inc. now owns 8,113 shares of the technology company’s stock valued at $728,000 after buying an additional 2,292 shares during the last quarter. Bridges Investment Management Inc. acquired a new stake in PTC during the 2nd quarter valued at $376,000. Capital Advisors Inc. OK acquired a new stake in PTC during the 2nd quarter valued at $10,030,000. Finally, JPMorgan Chase & Co. grew its holdings in PTC by 1.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 78,108 shares of the technology company’s stock valued at $6,851,000 after buying an additional 1,119 shares during the last quarter. Institutional investors and hedge funds own 91.75% of the company’s stock.
Shares of PTC stock traded up $0.42 during mid-day trading on Thursday, hitting $67.16. 47,349 shares of the company’s stock were exchanged, compared to its average volume of 1,205,936. PTC Inc has a fifty-two week low of $62.05 and a fifty-two week high of $107.44. The stock has a 50-day simple moving average of $67.20 and a two-hundred day simple moving average of $84.59. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.57. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 74.65, a PEG ratio of 2.03 and a beta of 1.14.
PTC has been the topic of a number of analyst reports. Citigroup set a $89.00 target price on PTC and gave the company a “hold” rating in a report on Friday, July 26th. Guggenheim cut PTC from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Royal Bank of Canada cut PTC from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $110.00 to $85.00 in a report on Thursday, July 25th. Stifel Nicolaus cut PTC from a “buy” rating to a “hold” rating and lowered their target price for the company from $105.00 to $84.00 in a report on Thursday, July 25th. Finally, BidaskClub cut PTC from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $92.13.
In related news, EVP Matthew Lessner Cohen sold 10,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the transaction, the executive vice president now directly owns 25,672 shares of the company’s stock, valued at approximately $2,310,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Corinna Lathan sold 843 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $64.48, for a total value of $54,356.64. The disclosure for this sale can be found here. Insiders have sold 19,793 shares of company stock worth $1,586,532 in the last 90 days. Insiders own 9.91% of the company’s stock.
PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
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