J. Safra Sarasin Holding AG Trims Stock Holdings in PTC Inc. (NASDAQ:PTC)

Key Points

• J. Safra Sarasin Holding AG reduced its stake in PTC Inc. by 37.6%, now owning 50,291 shares valued at approximately $7.79 million.
• Several other hedge funds have increased their positions in PTC, with T. Rowe Price adding 11.4%, and GAMMA Investing elevating their stake by an astonishing 13,184.0%.
• PTC's quarterly earnings topped estimates, reporting an EPS of $1.64 and revenue of $643.94 million, indicating a 24.2% increase year-over-year.

J. Safra Sarasin Holding AG reduced its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 37.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,291 shares of the technology company's stock after selling 30,252 shares during the quarter. J. Safra Sarasin Holding AG's holdings in PTC were worth $7,793,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in PTC by 208.5% in the first quarter. PNC Financial Services Group Inc. now owns 30,234 shares of the technology company's stock valued at $4,685,000 after purchasing an additional 20,435 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in PTC in the first quarter valued at $308,000. North Star Asset Management Inc. increased its stake in PTC by 3.7% in the first quarter. North Star Asset Management Inc. now owns 150,668 shares of the technology company's stock valued at $23,346,000 after purchasing an additional 5,394 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in PTC in the first quarter valued at $1,366,000. Finally, Bayforest Capital Ltd acquired a new position in PTC in the first quarter valued at $103,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PTC. KeyCorp upped their target price on PTC from $192.00 to $245.00 and gave the company an "overweight" rating in a research note on Thursday. Oppenheimer upped their price target on PTC from $225.00 to $240.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. BMO Capital Markets upped their price target on PTC from $187.00 to $231.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Mizuho dropped their price target on PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Finally, Robert W. Baird upped their price target on PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.14.

Insider Buying and Selling

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 value of $318,080.00. Following the completion of the transaction, the executive vice president owned 17,731 shares of the company's stock, valued at approximately $2,836,960. This represents a 10.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.32% of the company's stock.

PTC Stock Down 1.0%

Shares of PTC stock traded down $2.26 during trading hours on Tuesday, reaching $214.16. The company had a trading volume of 134,881 shares, compared to its average volume of 1,082,353. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $219.69. The company has a market capitalization of $25.69 billion, a P/E ratio of 50.39, a price-to-earnings-growth ratio of 2.58 and a beta of 1.17. The stock's fifty day simple moving average is $182.23 and its 200 day simple moving average is $169.86.

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