Bank of New York Mellon Corp Sells 40,081 Shares of PTC Inc. (NASDAQ:PTC)

Bank of New York Mellon Corp decreased its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 721,204 shares of the technology company's stock after selling 40,081 shares during the period. Bank of New York Mellon Corp owned approximately 0.60% of PTC worth $111,751,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Bartlett & CO. Wealth Management LLC purchased a new position in shares of PTC during the first quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd purchased a new position in PTC during the 4th quarter worth $30,000. UMB Bank n.a. grew its stake in shares of PTC by 153.4% in the 1st quarter. UMB Bank n.a. now owns 294 shares of the technology company's stock worth $46,000 after acquiring an additional 178 shares in the last quarter. Pinney & Scofield Inc. purchased a new stake in shares of PTC in the fourth quarter valued at about $47,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of PTC during the fourth quarter valued at about $51,000. 95.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PTC shares. Mizuho reduced their price objective on shares of PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Rosenblatt Securities restated a "buy" rating and issued a $204.00 target price on shares of PTC in a research note on Thursday, May 1st. Wall Street Zen downgraded PTC from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $160.00 price target (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. Finally, Barclays reduced their price objective on PTC from $215.00 to $175.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. 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. Based on data from MarketBeat.com, PTC presently has a consensus rating of "Hold" and a consensus target price of $189.23.

Insider Activity at PTC

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the transaction, the executive vice president directly owned 17,731 shares of the company's stock, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.32% of the company's stock.

PTC Stock Performance

Shares of NASDAQ PTC traded down $15.88 during trading on Thursday, reaching $194.59. 7,017,807 shares of the stock traded hands, compared to its average volume of 927,682. 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 capitalization of $23.34 billion, a P/E ratio of 53.46, a price-to-earnings-growth ratio of 2.46 and a beta of 1.17. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $213.14. The company has a 50-day moving average of $169.82 and a 200-day moving average of $168.00.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.37 by $0.42. The business had revenue of $636.37 million for the quarter, compared to the consensus estimate of $608.64 million. PTC had a net margin of 18.77% and a return on equity of 15.35%. The company's revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 earnings per share. Analysts forecast 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.