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

Cinctive Capital Management LP raised its position in PTC Inc. (NASDAQ:PTC) by 877.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 25,425 shares of the technology company’s stock after acquiring an additional 22,825 shares during the period. Cinctive Capital Management LP’s holdings in PTC were worth $4,675,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of PTC by 5.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,199 shares of the technology company’s stock worth $39,212,000 after purchasing an additional 9,893 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after acquiring an additional 135,677 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of PTC in the 4th quarter valued at approximately $1,113,000. Proficio Capital Partners LLC acquired a new position in shares of PTC in the 4th quarter worth approximately $8,858,000. Finally, Jones Financial Companies Lllp boosted its position in shares of PTC by 1,140.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the technology company’s stock worth $84,000 after purchasing an additional 422 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Activity

In other news, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the completion of the sale, the director now owns 7,604 shares in the company, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Rosenblatt Securities reissued a “buy” rating and issued a $204.00 target price on shares of PTC in a research report on Tuesday, February 4th. Citigroup decreased their target price on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. KeyCorp lifted their target price on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Finally, Stifel Nicolaus lifted their price objective on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $210.09.

PTC Trading Up 0.6 %

NASDAQ PTC opened at $157.16 on Thursday. PTC Inc. has a 52 week low of $150.93 and a 52 week high of $203.09. The firm has a 50 day moving average of $167.93 and a two-hundred day moving average of $180.66. 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 has a market capitalization of $18.91 billion, a PE ratio of 48.51, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22.

PTC (NASDAQ:PTC) last issued its 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, research analysts expect that PTC Inc. will post 4.46 EPS for the current fiscal 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.