Allspring Global Investments Holdings LLC Decreases Stock Position in PTC Inc. (NASDAQ:PTC)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of PTC Inc. (NASDAQ:PTC) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,529 shares of the technology company’s stock after selling 709 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PTC were worth $1,012,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after acquiring an additional 80 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of PTC in the third quarter valued at about $66,000. Blue Trust Inc. boosted its position in PTC by 473.9% during the third quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock worth $144,000 after acquiring an additional 654 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in PTC during the third quarter worth about $152,000. Finally, Signaturefd LLC boosted its position in PTC by 9.3% during the third quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock worth $162,000 after acquiring an additional 76 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Stock Performance

Shares of PTC opened at $161.65 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The stock has a market cap of $19.45 billion, a P/E ratio of 49.89, a PEG ratio of 2.27 and a beta of 1.19. The company has a 50-day moving average of $182.89 and a two-hundred day moving average of $183.23. PTC Inc. has a 12-month low of $161.02 and a 12-month high of $203.09.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. As a group, research analysts predict that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insider Activity at PTC

In related news, CFO Kristian Talvitie sold 10,306 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $199.34, for a total value of $2,054,398.04. Following the sale, the chief financial officer now directly owns 57,134 shares of the company’s stock, valued at $11,389,091.56. This represents a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. The trade was a 19.84 % decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on PTC shares. Citigroup reduced their target price on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. JPMorgan Chase & Co. increased their price objective on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday. Robert W. Baird raised their price objective on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus raised their target price on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

About PTC

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.