Alps Advisors Inc. Decreases Stock Position in PTC Inc. (NASDAQ:PTC)

Alps Advisors Inc. cut its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 44.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,401 shares of the technology company's stock after selling 4,314 shares during the period. Alps Advisors Inc.'s holdings in PTC were worth $837,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings in PTC by 16.5% during the 1st quarter. Fifth Third Bancorp now owns 3,334 shares of the technology company's stock valued at $517,000 after buying an additional 473 shares during the period. Mather Group LLC. raised its holdings in PTC by 18.3% during the 1st quarter. Mather Group LLC. now owns 845 shares of the technology company's stock valued at $131,000 after buying an additional 131 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in PTC by 20.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,510 shares of the technology company's stock valued at $2,091,000 after buying an additional 2,285 shares during the period. M&T Bank Corp raised its holdings in PTC by 8.2% during the 1st quarter. M&T Bank Corp now owns 9,522 shares of the technology company's stock valued at $1,475,000 after buying an additional 724 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in PTC in the 4th quarter valued at $8,858,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the sale, the executive vice president owned 17,731 shares of the company's stock, valued at $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

PTC has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price target on PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Robert W. Baird increased their price target on PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Mizuho dropped their price target on PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Barclays increased their price target on PTC from $175.00 to $203.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $160.00 price objective (down from $210.00) on shares of PTC in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $191.38.

PTC Price Performance

PTC stock traded up $1.14 during mid-day trading on Tuesday, reaching $192.22. 1,045,895 shares of the company's stock were exchanged, compared to its average volume of 935,806. The stock's 50 day moving average is $171.85 and its 200 day moving average is $167.89. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $213.14. The company has a market cap of $23.06 billion, a price-to-earnings ratio of 52.81, a price-to-earnings-growth ratio of 2.63 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.42. PTC had a return on equity of 15.35% and a net margin of 18.77%. The business had revenue of $636.37 million during the quarter, compared to analysts' expectations of $608.64 million. During the same quarter in the prior year, the firm earned $1.46 earnings per share. The business's revenue was up 5.5% compared to the same quarter last year. On average, research analysts expect that PTC Inc. will post 4.46 EPS for the current year.

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.