Allstate Corp Acquires New Stake in PTC Inc. (NASDAQ:PTC)

Allstate Corp bought a new position in PTC Inc. (NASDAQ:PTC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,532 shares of the technology company’s stock, valued at approximately $649,000.

A number of other institutional investors have also added to or reduced their stakes in the business. DnB Asset Management AS grew its position in PTC by 1.8% in the fourth quarter. DnB Asset Management AS now owns 20,239 shares of the technology company’s stock worth $3,721,000 after acquiring an additional 358 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of PTC by 16.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 6,603 shares of the technology company’s stock worth $1,214,000 after purchasing an additional 952 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of PTC during the 4th quarter valued at about $77,000. Norges Bank bought a new position in shares of PTC during the 4th quarter valued at about $128,852,000. Finally, Blair William & Co. IL lifted its position in PTC by 6.2% in the 4th quarter. Blair William & Co. IL now owns 2,727 shares of the technology company’s stock worth $501,000 after buying an additional 159 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

PTC Price Performance

PTC opened at $154.95 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $18.64 billion, a PE ratio of 47.82, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The stock’s 50 day moving average price is $169.18 and its 200-day moving average price is $180.94. PTC Inc. has a 52-week low of $151.80 and a 52-week high of $203.09.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. On average, equities research analysts predict that PTC Inc. will post 4.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on PTC. KeyCorp lifted their price target on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Citigroup lowered 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. Stifel Nicolaus raised their price objective on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 price objective on shares of PTC in a report on Tuesday, February 4th. Finally, StockNews.com cut PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $210.09.

Insiders Place Their Bets

In related news, Director Corinna Lathan sold 622 shares of the company’s stock in a transaction 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by company insiders.

PTC 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.