Southeast Asset Advisors LLC Cuts Stock Position in PTC Inc. (NASDAQ:PTC)

Southeast Asset Advisors LLC cut its holdings in PTC Inc. (NASDAQ:PTC) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,193 shares of the technology company’s stock after selling 694 shares during the period. Southeast Asset Advisors LLC’s holdings in PTC were worth $1,139,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. 2Xideas AG increased its stake in PTC by 17.1% in the 4th quarter. 2Xideas AG now owns 280,711 shares of the technology company’s stock worth $51,614,000 after acquiring an additional 41,064 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in PTC during the 4th quarter valued at about $30,000. Federated Hermes Inc. raised its holdings in shares of PTC by 1.1% in the fourth quarter. Federated Hermes Inc. now owns 446,350 shares of the technology company’s stock worth $82,070,000 after buying an additional 4,763 shares during the period. Russell Investments Group Ltd. increased its stake in PTC by 16.0% in the fourth quarter. Russell Investments Group Ltd. now owns 61,416 shares of the technology company’s stock worth $11,291,000 after purchasing an additional 8,474 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in PTC in the 4th quarter worth about $530,000. Institutional investors own 95.14% of the company’s stock.

PTC Stock Performance

Shares of PTC stock opened at $139.77 on Monday. PTC Inc. has a 52 week low of $135.46 and a 52 week high of $203.09. The company has a 50 day moving average price of $166.16 and a 200 day moving average price of $180.28. 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 firm has a market capitalization of $16.82 billion, a P/E ratio of 43.14, a PEG ratio of 2.27 and a beta of 1.17.

PTC (NASDAQ:PTC) last announced its quarterly earnings data 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 net margin of 16.95% and a return on equity of 14.49%. Sell-side analysts expect that PTC Inc. will post 4.46 EPS for the current year.

Insiders Place Their Bets

In other PTC news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction on Monday, March 17th. The shares were 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 owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is owned by insiders.

Analyst Ratings Changes

PTC has been the topic of several research reports. KeyCorp raised their price objective on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Rosenblatt Securities restated a “buy” rating and set a $204.00 price target on shares of PTC in a research note on Tuesday, February 4th. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. Citigroup cut their target price 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. Finally, Stifel Nicolaus upped 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. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PTC currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

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.