Parnassus Investments LLC Lowers Position in PTC Inc. (NASDAQ:PTC)

Parnassus Investments LLC trimmed its stake in shares of PTC Inc. (NASDAQ:PTC) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,745 shares of the technology company’s stock after selling 1,481 shares during the period. Parnassus Investments LLC owned 0.08% of PTC worth $17,972,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PTC. Skandinaviska Enskilda Banken AB publ grew its holdings in PTC by 14.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 218,222 shares of the technology company’s stock valued at $40,078,000 after buying an additional 27,020 shares in the last quarter. Vestcor Inc grew its holdings in shares of PTC by 19.1% in the fourth quarter. Vestcor Inc now owns 5,804 shares of the technology company’s stock valued at $1,067,000 after purchasing an additional 930 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in PTC in the fourth quarter worth $522,000. Avantax Advisory Services Inc. bought a new stake in PTC in the fourth quarter worth $223,000. Finally, Sequoia Financial Advisors LLC raised its stake in PTC by 27.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 1,860 shares of the technology company’s stock valued at $342,000 after purchasing an additional 399 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PTC. JPMorgan Chase & Co. boosted their target price on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research note on Sunday, March 9th. Rosenblatt Securities restated a “buy” rating and set a $204.00 price objective on shares of PTC in a research report on Tuesday, February 4th. Stifel Nicolaus lifted their target price on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Citigroup cut their target price on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and an average target price of $210.09.

PTC Stock Performance

Shares of PTC stock opened at $153.30 on Friday. 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 fifty day moving average is $175.33 and its two-hundred day moving average is $181.91. PTC Inc. has a 52 week low of $151.80 and a 52 week high of $203.09. The company has a market capitalization of $18.45 billion, a PE ratio of 47.31, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22.

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 year.

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.