KBC Group NV Trims Stock Position in PTC Inc. (NASDAQ:PTC)

KBC Group NV cut its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 30.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,891 shares of the technology company's stock after selling 68,134 shares during the period. KBC Group NV owned about 0.13% of PTC worth $23,845,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. grew its holdings 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 worth $3,174,432,000 after purchasing an additional 1,773,653 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of PTC by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company's stock worth $2,627,961,000 after purchasing an additional 240,080 shares during the last quarter. Geode Capital Management LLC grew its holdings in PTC by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company's stock worth $555,626,000 after acquiring an additional 67,504 shares in the last quarter. Fernbridge Capital Management LP grew its holdings in PTC by 6.0% during the 4th quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company's stock worth $278,484,000 after acquiring an additional 85,564 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in PTC by 11.0% during the 4th quarter. Northern Trust Corp now owns 1,313,273 shares of the technology company's stock worth $241,472,000 after acquiring an additional 129,910 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

PTC Stock Performance

Shares of NASDAQ PTC traded up $0.73 during midday trading on Tuesday, reaching $173.07. The company had a trading volume of 1,271,130 shares, compared to its average volume of 892,468. The business's 50-day simple moving average is $165.77 and its 200 day simple moving average is $168.25. The stock has a market cap of $20.76 billion, a P/E ratio of 47.55, a P/E/G ratio of 2.31 and a beta of 1.18. PTC Inc. has a 1 year low of $133.38 and a 1 year 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 posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.42. The business had revenue of $636.37 million during the quarter, compared to analysts' expectations of $608.64 million. PTC had a net margin of 18.77% and a return on equity of 15.35%. The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $1.46 earnings per share. On average, analysts forecast that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Activity

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's 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 owned 17,731 shares of the company's stock, 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 SEC, which is accessible through the SEC website. Corporate insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

PTC has been the topic of several recent research reports. Oppenheimer reiterated a "cautious" rating on shares of PTC in a report on Thursday, June 12th. Stifel Nicolaus dropped their target price on shares of PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $160.00 target price (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. Wall Street Zen cut shares of PTC from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Mizuho dropped their target price on shares of PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $188.69.

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.