Perpetual Ltd Cuts Stake in PTC Inc. (NASDAQ:PTC)

Perpetual Ltd reduced its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 95.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,677 shares of the technology company's stock after selling 408,165 shares during the period. Perpetual Ltd's holdings in PTC were worth $2,739,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. grew its position 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. Raymond James Financial Inc. bought a new position in shares of PTC during the fourth quarter valued at $146,712,000. Norges Bank bought a new position in shares of PTC during the fourth quarter valued at $128,852,000. GAMMA Investing LLC raised its stake in shares of PTC by 13,184.0% during the first quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company's stock valued at $53,517,000 after acquiring an additional 342,784 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of PTC during the fourth quarter valued at $59,506,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the 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 transaction, the executive vice president now owns 17,731 shares of the company's stock, valued at $2,836,960. This represents a 10.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

PTC has been the subject of several analyst reports. Stifel Nicolaus dropped their price target on shares of PTC from $230.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. restated a "neutral" rating and set a $160.00 price target (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. Barclays cut their price objective on shares of PTC from $215.00 to $175.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 price target on shares of PTC in a report on Thursday, May 1st. Finally, Wall Street Zen cut PTC from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, PTC has an average rating of "Hold" and a consensus target price of $188.69.

PTC Price Performance

PTC stock traded down $0.24 during midday trading on Friday, reaching $169.30. 2,037,878 shares of the stock were exchanged, compared to its average volume of 891,018. The company's fifty day moving average is $165.11 and its 200-day moving average is $168.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $20.31 billion, a PE ratio of 46.51, a PEG ratio of 2.31 and a beta of 1.18. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $203.09.

PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.42. The business had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. PTC had a net margin of 18.77% and a return on equity of 15.35%. PTC's revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 EPS. On average, sell-side analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

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.