Invesco Ltd. Lowers Stock Holdings in PTC Inc. (NASDAQ:PTC)

Key Points

• Invesco Ltd. reduced its stake in PTC Inc. by 1.6%, owning approximately 1.27% of the company, valued at $235.77 million after selling 24,568 shares in the first quarter.
• PTC reported a quarterly earnings beat with $1.64 earnings per share, exceeding estimates by $0.42 and achieving a revenue of $643.94 million, up 24.2% year-over-year.
• Brokerages have raised target prices for PTC shares, with Oppenheimer increasing the target from $225.00 to $240.00 and other firms maintaining a positive outlook on the stock.

Invesco Ltd. decreased its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,521,580 shares of the technology company's stock after selling 24,568 shares during the period. Invesco Ltd. owned approximately 1.27% of PTC worth $235,769,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its stake in shares of PTC by 11.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company's stock worth $3,174,432,000 after purchasing an additional 1,773,653 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of PTC by 41.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock valued at $445,687,000 after purchasing an additional 844,418 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of 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 purchasing an additional 342,784 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of PTC during the 4th quarter valued at $59,506,000. Finally, Janus Henderson Group PLC lifted its holdings in PTC by 1,753.2% in the 4th quarter. Janus Henderson Group PLC now owns 298,627 shares of the technology company's stock worth $54,909,000 after buying an additional 282,513 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Insider Activity

In related news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $216.29, for a total transaction of $429,984.52. Following the sale, the executive vice president directly owned 15,743 shares in the company, valued at $3,405,053.47. This trade represents a 11.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company's stock.

PTC Stock Down 1.0%

Shares of PTC stock traded down $2.17 on Friday, hitting $205.84. The company had a trading volume of 1,366,154 shares, compared to its average volume of 1,075,910. The firm has a market capitalization of $24.66 billion, a P/E ratio of 48.55, a P/E/G ratio of 2.21 and a beta of 1.17. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $219.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a 50-day moving average of $188.64 and a 200-day moving average of $171.21.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.42. The firm had revenue of $643.94 million for the quarter, compared to analyst estimates of $582.12 million. PTC had a net margin of 20.74% and a return on equity of 17.09%. The company's quarterly revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. Research analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

PTC has been the subject of several recent analyst reports. Oppenheimer upped their target price on shares of PTC from $225.00 to $240.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Royal Bank Of Canada increased their price target on PTC from $224.00 to $235.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Wells Fargo & Company reiterated an "overweight" rating on shares of PTC in a research note on Tuesday, July 29th. Wall Street Zen upgraded shares of PTC from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, UBS Group reissued a "buy" rating on shares of PTC in a report on Tuesday, July 29th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, PTC currently has an average rating of "Moderate Buy" and a consensus price target of $202.14.

PTC Company 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.