Massachusetts Financial Services Co. MA cut its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 11.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 869,656 shares of the technology company's stock after selling 117,179 shares during the period. Massachusetts Financial Services Co. MA owned 0.72% of PTC worth $134,753,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in PTC. Aster Capital Management DIFC Ltd bought a new position in shares of PTC during the 4th quarter worth approximately $30,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of PTC during the 1st quarter valued at $26,000. Pinney & Scofield Inc. purchased a new stake in shares of PTC during the 4th quarter valued at $47,000. Kapitalo Investimentos Ltda purchased a new stake in shares of PTC during the 4th quarter valued at $51,000. Finally, UMB Bank n.a. increased its position in shares of PTC by 153.4% during the 1st quarter. UMB Bank n.a. now owns 294 shares of the technology company's stock valued at $46,000 after purchasing an additional 178 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
PTC has been the subject of several recent research reports. Piper Sandler decreased their price objective on PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Wall Street Zen downgraded PTC from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Mizuho dropped their target price on PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. BMO Capital Markets boosted their target price on PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Barclays boosted their price objective on PTC from $175.00 to $203.00 and gave the company an "overweight" rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $192.92.
View Our Latest Research Report on PTC
PTC Stock Up 1.3%
PTC stock traded up $2.61 during midday trading on Friday, hitting $199.61. The stock had a trading volume of 880,146 shares, compared to its average volume of 934,733. The firm has a market cap of $23.94 billion, a price-to-earnings ratio of 54.84, a price-to-earnings-growth ratio of 2.64 and a beta of 1.17. The business has a 50-day moving average of $173.83 and a two-hundred day moving average of $168.34. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $213.14. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99.
PTC (NASDAQ:PTC - Get Free Report) last released its earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.42. PTC had a return on equity of 15.35% and a net margin of 18.77%. The firm had revenue of $636.37 million for the quarter, compared to analysts' expectations of $608.64 million. During the same period in the prior year, the firm posted $1.46 earnings per share. The company's quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts forecast that PTC Inc. will post 4.46 earnings per share for the current fiscal year.
Insider Activity 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 stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the sale, the executive vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.32% of the company's stock.
PTC Company Profile
(
Free Report)
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.
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