Pictet Asset Management Holding SA Grows Stock Position in PTC Inc. (NASDAQ:PTC)

Pictet Asset Management Holding SA raised its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 41.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,876,333 shares of the technology company's stock after purchasing an additional 844,418 shares during the period. Pictet Asset Management Holding SA owned 2.39% of PTC worth $445,687,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. grew its position in 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 during the last quarter. Norges Bank acquired a new stake in shares of PTC during the fourth quarter worth $128,852,000. GAMMA Investing LLC lifted 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 worth $53,517,000 after buying an additional 342,784 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of PTC during the fourth quarter worth $59,506,000. Finally, Janus Henderson Group PLC lifted its stake in shares of PTC by 1,753.2% during the fourth 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 during the period. Hedge funds and other institutional investors own 95.14% of the company's stock.

Insider Activity at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the sale, the executive vice president directly owned 17,731 shares in the company, valued at approximately $2,836,960. The trade was a 10.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company's stock.

PTC Stock Performance

NASDAQ:PTC traded up $0.15 during midday trading on Monday, reaching $199.76. The stock had a trading volume of 172,009 shares, compared to its average volume of 933,026. The firm has a fifty day simple moving average of $174.56 and a two-hundred day simple moving average of $168.23. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $213.14. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.40. The stock has a market cap of $23.96 billion, a P/E ratio of 54.87, a P/E/G ratio of 2.72 and a beta of 1.17.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PTC shares. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 target price on shares of PTC in a research note on Thursday, May 1st. Stifel Nicolaus reduced their target price on shares of PTC from $230.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Robert W. Baird upped their price objective on shares of PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Piper Sandler lowered their target price on shares of PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Wall Street Zen lowered shares of PTC from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $192.92.

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.