Ballentine Partners LLC Lowers Holdings in PTC Inc. (NASDAQ:PTC)

Ballentine Partners LLC trimmed its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 43.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,492 shares of the technology company's stock after selling 6,476 shares during the quarter. Ballentine Partners LLC's holdings in PTC were worth $1,316,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its position in shares of PTC by 1,140.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the technology company's stock worth $84,000 after acquiring an additional 422 shares during the period. Assetmark Inc. raised its position in shares of PTC by 825.0% in the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company's stock worth $61,000 after acquiring an additional 297 shares during the period. Atria Investments Inc raised its position in shares of PTC by 10.5% in the fourth quarter. Atria Investments Inc now owns 2,714 shares of the technology company's stock worth $499,000 after acquiring an additional 259 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of PTC in the fourth quarter worth about $8,858,000. Finally, PNC Financial Services Group Inc. raised its position in shares of PTC by 6.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company's stock worth $1,802,000 after acquiring an additional 559 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the sale, the executive vice president directly owned 17,731 shares in the company, valued at $2,836,960. This represents a 10.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PTC has been the subject of several research analyst reports. BMO Capital Markets upped their price target on shares of PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and set a $204.00 price target on shares of PTC in a research report on Thursday, May 1st. Oppenheimer restated a "cautious" rating on shares of PTC in a research report on Thursday, June 12th. Robert W. Baird upped their price target on shares of PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Stifel Nicolaus reduced their price target on shares of PTC from $230.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. One investment 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $189.23.

PTC Stock Performance

PTC stock opened at $193.51 on Monday. The firm has a 50 day simple moving average of $171.26 and a 200-day simple moving average of $167.85. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $213.14. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $23.21 billion, a price-to-earnings ratio of 53.16, a price-to-earnings-growth ratio of 2.66 and a beta of 1.17.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.42. The firm had revenue of $636.37 million during the quarter, compared to analysts' expectations of $608.64 million. PTC had a net margin of 18.77% and a return on equity of 15.35%. The firm's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $1.46 EPS. On average, analysts expect 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.