Cinctive Capital Management LP Raises Stock Holdings in PTC Inc. (NASDAQ:PTC)

Cinctive Capital Management LP raised its position in shares of PTC Inc. (NASDAQ:PTC) by 877.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,425 shares of the technology company’s stock after purchasing an additional 22,825 shares during the quarter. Cinctive Capital Management LP’s holdings in PTC were worth $4,675,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PTC. Cerity Partners LLC increased its holdings in PTC by 51.3% in the 3rd quarter. Cerity Partners LLC now owns 5,768 shares of the technology company’s stock worth $1,042,000 after buying an additional 1,955 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of PTC by 12.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 5,274 shares of the technology company’s stock valued at $953,000 after acquiring an additional 600 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of PTC in the third quarter worth $7,564,000. HighTower Advisors LLC raised its holdings in shares of PTC by 47.6% during the third quarter. HighTower Advisors LLC now owns 6,199 shares of the technology company’s stock worth $1,117,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in PTC by 42.4% during the third quarter. Janus Henderson Group PLC now owns 16,114 shares of the technology company’s stock valued at $2,912,000 after purchasing an additional 4,800 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PTC

In other news, Director Corinna Lathan sold 622 shares of the business’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 transaction of $96,739.66. Following the transaction, the director now directly owns 7,604 shares in the company, valued at $1,182,650.12. The trade was a 7.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

PTC Trading Up 0.6 %

PTC stock opened at $157.16 on Thursday. PTC Inc. has a 12-month low of $150.93 and a 12-month high of $203.09. The business’s 50-day moving average is $167.93 and its 200 day moving average is $180.66. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The stock has a market cap of $18.91 billion, a price-to-earnings ratio of 48.51, a PEG ratio of 2.27 and a beta of 1.22.

PTC (NASDAQ:PTC) last issued its quarterly earnings results 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 return on equity of 14.49% and a net margin of 16.95%. On average, sell-side analysts anticipate that PTC Inc. will post 4.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PTC. Citigroup reduced their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. KeyCorp lifted their price target on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Stifel Nicolaus raised their price objective on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 target price on shares of PTC in a research note on Tuesday, February 4th. Finally, StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Company 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.