Allspring Global Investments Holdings LLC Sells 90,497 Shares of PTC Inc. (NASDAQ:PTC)

Allspring Global Investments Holdings LLC lowered its holdings in PTC Inc. (NASDAQ:PTC) by 93.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,864 shares of the technology company’s stock after selling 90,497 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PTC were worth $1,026,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PTC. CWM LLC raised its holdings in shares of PTC by 6.9% in the 3rd quarter. CWM LLC now owns 1,155 shares of the technology company’s stock valued at $164,000 after purchasing an additional 75 shares in the last quarter. Hartford Investment Management Co. grew its position in shares of PTC by 6.8% in the 3rd quarter. Hartford Investment Management Co. now owns 8,048 shares of the technology company’s stock worth $1,140,000 after buying an additional 510 shares during the last quarter. Avior Wealth Management LLC grew its position in shares of PTC by 3.2% in the 3rd quarter. Avior Wealth Management LLC now owns 2,881 shares of the technology company’s stock worth $408,000 after buying an additional 90 shares during the last quarter. DeDora Capital Inc. grew its position in shares of PTC by 64.3% in the 3rd quarter. DeDora Capital Inc. now owns 2,773 shares of the technology company’s stock worth $393,000 after buying an additional 1,085 shares during the last quarter. Finally, Oak Thistle LLC grew its position in shares of PTC by 452.3% in the 3rd quarter. Oak Thistle LLC now owns 10,460 shares of the technology company’s stock worth $1,482,000 after buying an additional 8,566 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

PTC Stock Up 1.1 %

PTC stock opened at $180.44 on Wednesday. The firm’s fifty day simple moving average is $183.54 and its 200-day simple moving average is $169.62. The company has a market capitalization of $21.57 billion, a P/E ratio of 91.59, a price-to-earnings-growth ratio of 3.15 and a beta of 1.17. 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 12 month low of $120.62 and a 12 month high of $194.24.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. The business had revenue of $550.21 million for the quarter, compared to the consensus estimate of $538.59 million. PTC had a net margin of 10.86% and a return on equity of 12.87%. As a group, equities research analysts forecast that PTC Inc. will post 3.47 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PTC. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $202.00 price objective on shares of PTC in a research report on Thursday, February 1st. KeyCorp lifted their price objective on shares of PTC from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Barclays lifted their price objective on shares of PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Robert W. Baird reissued an “outperform” rating and set a $210.00 target price on shares of PTC in a research report on Tuesday, April 2nd. Finally, BMO Capital Markets boosted their target price on shares of PTC from $195.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $196.73.

Insider Activity at PTC

In related news, insider Catherine Kniker sold 1,330 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $179.59, for a total value 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 document filed with the SEC, which is accessible through the SEC website. In related news, CEO James E. Heppelmann sold 35,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 968,357 shares in the company, valued at approximately $171,631,594.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction 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 transaction, the insider now owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The disclosure for this sale can be found here. Insiders sold a total of 36,415 shares of company stock worth $6,457,478 in the last three months. Company insiders own 1.17% of the company’s stock.

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.