Thrivent Financial for Lutherans Sells 16,295 Shares of PTC Inc. (NASDAQ:PTC)

Thrivent Financial for Lutherans trimmed its stake in shares of PTC Inc. (NASDAQ:PTC) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,021 shares of the technology company’s stock after selling 16,295 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.11% of PTC worth $24,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several research firms recently commented on PTC. KeyCorp raised their target price on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. lifted their price objective on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Rosenblatt Securities reissued a “buy” rating and set a $204.00 target price on shares of PTC in a research note on Tuesday, February 4th. Citigroup decreased their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus increased their price objective on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Stock Performance

Shares of PTC opened at $159.90 on Friday. The firm has a market capitalization of $19.24 billion, a P/E ratio of 49.35, a P/E/G ratio of 2.27 and a beta of 1.22. PTC Inc. has a 52 week low of $151.80 and a 52 week high of $203.09. The stock has a 50 day moving average price of $172.82 and a two-hundred day moving average price of $181.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69.

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

Insider Activity

In other news, Director Corinna Lathan sold 622 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the transaction, the director now directly owns 7,604 shares of the company’s stock, valued at $1,182,650.12. This represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.32% of the stock is currently 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.