Raymond James Financial Inc. Acquires Shares of 797,909 PTC Inc. (NASDAQ:PTC)

Raymond James Financial Inc. acquired a new stake in PTC Inc. (NASDAQ:PTC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 797,909 shares of the technology company’s stock, valued at approximately $146,712,000. Raymond James Financial Inc. owned approximately 0.66% of PTC as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP boosted its stake in shares of PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after buying an additional 69 shares during the last quarter. Covestor Ltd boosted its stake in shares of PTC by 70.8% during the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after buying an additional 80 shares during the last quarter. Assetmark Inc. boosted its stake in shares of PTC by 825.0% during the 4th quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock valued at $61,000 after buying an additional 297 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of PTC during the 3rd quarter valued at approximately $66,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of PTC by 83.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock valued at $83,000 after buying an additional 205 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PTC. Stifel Nicolaus increased their target price on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. 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. JPMorgan Chase & Co. raised 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. Citigroup reduced their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, 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. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

PTC Price Performance

Shares of NASDAQ PTC opened at $162.65 on Friday. PTC Inc. has a 1-year low of $155.53 and a 1-year high of $203.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The business’s fifty day moving average price is $177.45 and its two-hundred day moving average price is $182.44. The firm has a market capitalization of $19.57 billion, a PE ratio of 50.20, a P/E/G ratio of 2.27 and a beta of 1.22.

PTC (NASDAQ:PTC) last issued its 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 return on equity of 14.49% and a net margin of 16.95%. On average, research analysts expect that PTC Inc. will post 4.46 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 5,373 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the transaction, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is owned by corporate insiders.

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.