Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 796,261 shares of the technology company's stock after selling 9,402 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.66% of PTC worth $123,381,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bartlett & CO. Wealth Management LLC acquired a new position in PTC in the 1st quarter valued at $26,000. Aster Capital Management DIFC Ltd acquired a new position in PTC in the 4th quarter valued at $30,000. UMB Bank n.a. grew its stake in PTC by 153.4% in the 1st quarter. UMB Bank n.a. now owns 294 shares of the technology company's stock valued at $46,000 after buying an additional 178 shares during the last quarter. Pinney & Scofield Inc. acquired a new position in PTC in the 4th quarter valued at $47,000. Finally, Kapitalo Investimentos Ltda acquired a new position in PTC in the 4th quarter valued at $51,000. Institutional investors own 95.14% of the company's stock.
Insider Transactions at PTC
In related news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the transaction, the executive vice president directly owned 17,731 shares of the company's stock, valued at $2,836,960. This trade represents a 10.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is owned by corporate insiders.
Analyst Ratings Changes
PTC has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their target price on shares of PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Mizuho lowered their target price on shares of PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. BMO Capital Markets raised their price target on shares of PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Robert W. Baird raised their price target on shares of PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, KeyCorp decreased their price target on shares of PTC from $211.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $188.69.
Check Out Our Latest Research Report on PTC
PTC Price Performance
Shares of NASDAQ:PTC traded up $0.73 during midday trading on Tuesday, reaching $173.07. 1,271,130 shares of the company's stock were exchanged, compared to its average volume of 893,425. The company's 50 day simple moving average is $165.77 and its two-hundred day simple moving average is $168.25. The firm has a market capitalization of $20.76 billion, a PE ratio of 47.55, a price-to-earnings-growth ratio of 2.36 and a beta of 1.17. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $203.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99.
PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.42. The company had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. PTC had a net margin of 18.77% and a return on equity of 15.35%. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. Equities research analysts expect that PTC Inc. will post 4.46 earnings per share for the current fiscal year.
PTC 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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