Comerica Bank Decreases Position in PTC Inc. (NASDAQ:PTC)

Comerica Bank decreased its position in shares of PTC Inc. (NASDAQ:PTC) by 0.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 121,029 shares of the technology company’s stock after selling 836 shares during the period. Comerica Bank’s holdings in PTC were worth $22,254,000 as of its most recent SEC filing.

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

PTC Price Performance

Shares of PTC stock opened at $154.97 on Thursday. The company has a market capitalization of $18.65 billion, a price-to-earnings ratio of 47.83, a PEG ratio of 2.27 and a beta of 1.17. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. The stock’s 50-day simple moving average is $153.69 and its 200-day simple moving average is $175.74. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $203.09.

PTC (NASDAQ:PTC) last posted 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, analysts expect that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Transactions at PTC

In other news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction dated Monday, March 17th. The stock was 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 of the company’s stock, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PTC. Mizuho cut their price target on PTC from $190.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Citigroup reduced 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. Rosenblatt Securities reissued a “buy” rating and set a $204.00 price objective on shares of PTC in a research report on Tuesday, February 4th. Robert W. Baird raised their target price on PTC from $181.00 to $185.00 and gave the stock an “outperform” rating in a report on Tuesday, April 22nd. Finally, BMO Capital Markets lowered their target price on PTC from $220.00 to $183.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, PTC currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.38.

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.