Envestnet Asset Management Inc. Sells 30,536 Shares of PTC Inc. (NASDAQ:PTC)

Envestnet Asset Management Inc. reduced its position in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 33.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,027 shares of the technology company's stock after selling 30,536 shares during the period. Envestnet Asset Management Inc. owned 0.05% of PTC worth $9,456,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in shares of PTC by 11.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company's stock valued at $3,174,432,000 after purchasing an additional 1,773,653 shares in the last quarter. Norges Bank purchased a new stake in PTC in the 4th quarter valued at $128,852,000. GAMMA Investing LLC grew its holdings in PTC by 13,184.0% in the 1st quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company's stock valued at $53,517,000 after buying an additional 342,784 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of PTC in the 4th quarter worth $59,506,000. Finally, Janus Henderson Group PLC raised its holdings in shares of PTC by 1,753.2% during the 4th quarter. Janus Henderson Group PLC now owns 298,627 shares of the technology company's stock worth $54,909,000 after acquiring an additional 282,513 shares during the period. Institutional investors and hedge funds own 95.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wall Street Zen lowered shares of PTC from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. BMO Capital Markets lifted their price objective on PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Oppenheimer increased their target price on PTC from $190.00 to $210.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Stifel Nicolaus cut their price target on shares of PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Mizuho dropped their price objective on shares of PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, PTC currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.92.

PTC Stock Performance

NASDAQ PTC traded down $0.79 during trading hours on Monday, reaching $198.82. The company's stock had a trading volume of 728,833 shares, compared to its average volume of 935,222. The stock has a market cap of $23.85 billion, a PE ratio of 49.04, a PEG ratio of 2.72 and a beta of 1.17. The business has a 50-day simple moving average of $174.56 and a 200 day simple moving average of $168.23. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $213.14. 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 results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.42. PTC had a return on equity of 15.35% and a net margin of 18.77%. The company had revenue of $636.37 million during the quarter, compared to analysts' expectations of $608.64 million. During the same quarter in the prior year, the business posted $1.46 earnings per share. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the transaction, the executive vice president directly owned 17,731 shares in the company, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by company insiders.

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.