Corient Private Wealth LLC Sells 1,126 Shares of PTC Inc. (NASDAQ:PTC)

Corient Private Wealth LLC lessened its holdings in shares of PTC Inc. (NASDAQ:PTC) by 17.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,201 shares of the technology company’s stock after selling 1,126 shares during the period. Corient Private Wealth LLC’s holdings in PTC were worth $956,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG lifted its holdings in PTC by 1.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock worth $722,000 after buying an additional 55 shares in the last quarter. Wedmont Private Capital lifted its stake in shares of PTC by 1.6% during the fourth quarter. Wedmont Private Capital now owns 4,026 shares of the technology company’s stock valued at $734,000 after acquiring an additional 64 shares during the period. Allworth Financial LP boosted its holdings in PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after acquiring an additional 69 shares during the last quarter. Otter Creek Advisors LLC increased its position in PTC by 0.4% in the fourth quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company’s stock worth $3,527,000 after purchasing an additional 80 shares during the period. Finally, Kirtland Hills Capital Management LLC raised its holdings in PTC by 3.2% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 2,948 shares of the technology company’s stock worth $542,000 after purchasing an additional 91 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Price Performance

Shares of PTC opened at $160.31 on Friday. The stock has a 50 day simple moving average of $170.50 and a 200 day simple moving average of $180.96. PTC Inc. has a 52-week low of $151.80 and a 52-week high of $203.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $19.29 billion, a PE ratio of 49.48, a P/E/G ratio of 2.27 and a beta of 1.22.

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

Insider Activity

In other news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the sale, the director now directly owns 7,604 shares in the company, valued at $1,182,650.12. This trade represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PTC. Rosenblatt Securities reiterated a “buy” rating and set a $204.00 price target on shares of PTC in a research report on Tuesday, February 4th. Citigroup lowered their target price on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Stifel Nicolaus increased their price target on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price objective on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Finally, KeyCorp increased their target price on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.