DAVENPORT & Co LLC Sells 187,428 Shares of PTC Inc. (NASDAQ:PTC)

DAVENPORT & Co LLC lowered its position in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 97.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,548 shares of the technology company's stock after selling 187,428 shares during the quarter. DAVENPORT & Co LLC's holdings in PTC were worth $705,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of PTC. Wahed Invest LLC raised its holdings in shares of PTC by 2.1% in the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock worth $539,000 after acquiring an additional 61 shares during the last quarter. Portside Wealth Group LLC raised its holdings in shares of 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 acquiring an additional 78 shares during the last quarter. Strategic Advisors LLC raised its holdings in shares of PTC by 1.1% in the 1st quarter. Strategic Advisors LLC now owns 7,729 shares of the technology company's stock worth $1,198,000 after acquiring an additional 83 shares during the last quarter. Steph & Co. raised its holdings in shares of PTC by 6.7% in the 1st quarter. Steph & Co. now owns 1,347 shares of the technology company's stock worth $209,000 after acquiring an additional 84 shares during the last quarter. Finally, Utah Retirement Systems raised its holdings in shares of PTC by 0.5% in the 4th quarter. Utah Retirement Systems now owns 19,577 shares of the technology company's stock worth $3,600,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

PTC Stock Performance

Shares of PTC stock traded down $1.18 during trading hours on Wednesday, hitting $177.73. 731,759 shares of the company were exchanged, compared to its average volume of 894,513. The firm has a fifty day simple moving average of $168.71 and a 200 day simple moving average of $167.70. The stock has a market capitalization of $21.32 billion, a price-to-earnings ratio of 48.88, a P/E/G ratio of 2.39 and a beta of 1.17. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $203.09. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.40.

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, topping the consensus estimate of $1.37 by $0.42. The company had revenue of $636.37 million during 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%. PTC's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $1.46 EPS. Research analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Buying and Selling

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. Company insiders own 0.32% of the company's stock.

Analysts Set New Price Targets

PTC has been the topic of a number of analyst reports. Barclays lowered their target price on shares of PTC from $215.00 to $175.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Rosenblatt Securities restated a "buy" rating and issued a $204.00 target price on shares of PTC in a report on Thursday, May 1st. Oppenheimer restated a "cautious" rating on shares of PTC in a report on Thursday, June 12th. 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. Finally, BMO Capital Markets upped their price objective 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, PTC has an average rating of "Hold" and a consensus target price of $189.23.

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.