Assenagon Asset Management S.A. Reduces Stock Holdings in PTC Inc. (NASDAQ:PTC)

Assenagon Asset Management S.A. decreased its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 6.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 81,975 shares of the technology company's stock after selling 5,699 shares during the quarter. Assenagon Asset Management S.A. owned 0.07% of PTC worth $12,702,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank Pictet & Cie Europe AG lifted its holdings in shares of PTC by 1.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company's stock valued at $722,000 after buying an additional 55 shares during the last quarter. Wahed Invest LLC lifted its holdings in shares of PTC by 2.1% during the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock valued at $539,000 after buying an additional 61 shares during the last quarter. Allworth Financial LP lifted its holdings in PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company's stock worth $35,000 after purchasing an additional 69 shares during the last quarter. Portside Wealth Group LLC lifted its holdings in PTC by 2.4% in the 1st quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company's stock worth $514,000 after purchasing an additional 78 shares during the last quarter. Finally, Otter Creek Advisors LLC lifted its holdings in PTC by 0.4% in the 4th quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company's stock worth $3,527,000 after purchasing an additional 80 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Insider Buying and Selling at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the transaction, the executive vice president now directly owns 17,731 shares of the company's stock, valued at $2,836,960. The trade was a 10.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.32% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PTC shares. Robert W. Baird boosted their target price on PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Wall Street Zen lowered PTC from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Oppenheimer restated a "cautious" rating on shares of PTC in a report on Thursday, June 12th. KeyCorp dropped their price target on PTC from $211.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $204.00 price target on shares of PTC in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $188.69.

PTC Stock Performance

Shares of NASDAQ PTC traded down $5.08 during trading hours on Tuesday, reaching $167.53. 878,917 shares of the stock were exchanged, compared to its average volume of 885,186. The firm has a market capitalization of $20.10 billion, a price-to-earnings ratio of 46.02, a P/E/G ratio of 2.36 and a beta of 1.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $203.09. The stock's fifty day simple moving average is $161.49 and its 200 day simple moving average is $170.45.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping 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 firm had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. During the same quarter last year, the company earned $1.46 EPS. The company's revenue was up 5.5% on a year-over-year basis. Sell-side analysts predict that PTC Inc. will post 4.46 EPS for the current 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.