Amalgamated Bank Sells 350 Shares of PTC Inc. (NASDAQ:PTC)

Amalgamated Bank reduced its holdings in PTC Inc. (NASDAQ:PTC) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,189 shares of the technology company’s stock after selling 350 shares during the quarter. Amalgamated Bank’s holdings in PTC were worth $4,448,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PTC. State Street Corp boosted its stake in PTC by 2.7% during the third quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after acquiring an additional 133,370 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of PTC by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock valued at $533,341,000 after buying an additional 37,645 shares during the period. Fernbridge Capital Management LP increased its position in PTC by 83.7% in the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after buying an additional 650,990 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of PTC by 2.9% during the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after acquiring an additional 30,525 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of PTC by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock worth $167,012,000 after purchasing an additional 150,652 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

PTC Stock Performance

NASDAQ PTC opened at $163.63 on Friday. The company’s 50 day simple moving average is $179.98 and its two-hundred day simple moving average is $182.89. The stock has a market capitalization of $19.69 billion, a PE ratio of 50.50, a P/E/G ratio of 2.27 and a beta of 1.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. PTC Inc. has a 1 year low of $160.53 and a 1 year high of $203.09.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share 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%. Analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on PTC shares. StockNews.com downgraded shares of PTC from a “buy” rating to a “hold” rating in a report on Saturday. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and dropped their target price for the company from $210.00 to $196.00 in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Rosenblatt Securities restated a “buy” rating and set a $204.00 price objective on shares of PTC in a research note on Tuesday, February 4th. Finally, Citigroup dropped their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.09.

Insider Activity at PTC

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

PTC Company 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.