Congress Asset Management Co. Sells 550,763 Shares of PTC Inc. (NASDAQ:PTC)

Congress Asset Management Co. reduced its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 81.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 121,923 shares of the technology company's stock after selling 550,763 shares during the period. Congress Asset Management Co. owned approximately 0.10% of PTC worth $18,892,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Portside Wealth Group LLC increased its position 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 buying an additional 78 shares during the period. Sendero Wealth Management LLC bought a new position in PTC in the 1st quarter worth approximately $358,000. Silverberg Bernstein Capital Management LLC increased its position in PTC by 5.0% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 50,308 shares of the technology company's stock worth $7,795,000 after buying an additional 2,400 shares during the period. Fiduciary Alliance LLC bought a new position in PTC in the 1st quarter worth approximately $531,000. Finally, Czech National Bank increased its position in PTC by 6.1% in the 1st quarter. Czech National Bank now owns 27,636 shares of the technology company's stock worth $4,282,000 after buying an additional 1,589 shares during the period. 95.14% of the stock is owned by institutional investors.

PTC Price Performance

Shares of PTC stock opened at $170.34 on Friday. The stock's fifty day simple moving average is $157.82 and its 200 day simple moving average is $171.81. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $20.43 billion, a price-to-earnings ratio of 52.57, a P/E/G ratio of 2.27 and a beta of 1.18. PTC Inc. has a one year low of $133.38 and a one year high of $203.09.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings results 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 analyst estimates of $608.64 million. PTC had a return on equity of 14.49% and a net margin of 16.95%. PTC's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 EPS. On average, analysts expect that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Activity at PTC

In other PTC news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction 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 now owns 17,731 shares of the company's stock, valued at approximately $2,836,960. The trade was a 10.08% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on PTC shares. BMO Capital Markets lifted their price target on PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Piper Sandler decreased their price objective on PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Robert W. Baird lifted their price objective on PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. KeyCorp decreased their price objective on PTC from $211.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Barclays decreased their price objective on PTC from $215.00 to $175.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, PTC has a consensus rating of "Moderate Buy" and a consensus target price of $187.15.

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.

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