Everence Capital Management Inc. Sells 4,180 Shares of PTC Inc. (NASDAQ:PTC)

Everence Capital Management Inc. lowered its stake in shares of PTC Inc. (NASDAQ:PTC) by 64.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,330 shares of the technology company’s stock after selling 4,180 shares during the quarter. Everence Capital Management Inc.’s holdings in PTC were worth $408,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of PTC. Vanguard Group Inc. increased its position in shares of PTC by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock valued at $1,965,137,000 after purchasing an additional 859,227 shares during the last quarter. Norges Bank purchased a new stake in shares of PTC during the 4th quarter valued at about $48,590,000. Select Equity Group L.P. purchased a new stake in shares of PTC during the 1st quarter valued at about $43,148,000. Barclays PLC increased its position in shares of PTC by 67.0% during the 3rd quarter. Barclays PLC now owns 691,521 shares of the technology company’s stock valued at $97,975,000 after purchasing an additional 277,358 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of PTC during the 3rd quarter valued at about $39,054,000. Institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price target on shares of PTC in a research report on Friday, April 12th. Piper Sandler increased their target price on shares of PTC from $155.00 to $177.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. JPMorgan Chase & Co. raised shares of PTC from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $130.00 to $200.00 in a report on Thursday, January 4th. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a report on Thursday. Finally, BMO Capital Markets increased their target price on shares of PTC from $195.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and an average target price of $196.73.

Insider Activity

In other news, insider Catherine Kniker sold 1,330 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the transaction, the insider now directly owns 13,864 shares in the company, valued at approximately $2,489,835.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Catherine Kniker sold 1,330 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the transaction, the insider now directly owns 13,864 shares in the company, valued at approximately $2,489,835.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $177.24, for a total value of $6,203,400.00. Following the transaction, the chief executive officer now owns 968,357 shares of the company’s stock, valued at $171,631,594.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,415 shares of company stock worth $6,457,478. 1.17% of the stock is currently owned by insiders.

PTC Trading Down 1.0 %

Shares of PTC opened at $175.70 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.19 and a quick ratio of 1.19. PTC Inc. has a 1 year low of $120.62 and a 1 year high of $194.24. The company has a 50 day simple moving average of $183.62 and a two-hundred day simple moving average of $168.40. The firm has a market cap of $21.00 billion, a P/E ratio of 89.19, a price-to-earnings-growth ratio of 3.17 and a beta of 1.17.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. PTC had a net margin of 10.86% and a return on equity of 12.87%. The business had revenue of $550.21 million during the quarter, compared to analyst estimates of $538.59 million. On average, equities analysts expect that PTC Inc. will post 3.47 earnings per share 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.