Liontrust Investment Partners LLP Reduces Stock Position in PTC Inc. $PTC

Key Points

• Liontrust Investment Partners LLP has reduced its stake in PTC Inc. by 7.5%, now holding 927,920 shares, which constitutes 2.2% of its overall portfolio.
• PTC's stock has received multiple positive ratings from analysts, with target price upgrades from various firms, including BMO Capital Markets raising the target from $187 to $231.
• PTC reported a strong earnings performance with a 24.2% year-over-year revenue increase and an earnings per share of $1.64, surpassing analysts' expectations.

Liontrust Investment Partners LLP reduced its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 7.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 927,920 shares of the technology company's stock after selling 75,612 shares during the period. PTC comprises approximately 2.2% of Liontrust Investment Partners LLP's investment portfolio, making the stock its 8th largest position. Liontrust Investment Partners LLP owned 0.77% of PTC worth $143,781,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. raised its holdings 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. Vanguard Group Inc. increased its stake in PTC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 14,332,180 shares of the technology company's stock valued at $2,220,771,000 after purchasing an additional 39,688 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in PTC by 41.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock valued at $445,687,000 after purchasing an additional 844,418 shares in the last quarter. Nuveen LLC bought a new stake in PTC during the 1st quarter valued at $241,789,000. Finally, Fernbridge Capital Management LP raised its holdings in shares of PTC by 6.0% in the fourth quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company's stock valued at $278,484,000 after purchasing an additional 85,564 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PTC. Royal Bank Of Canada increased their target price on shares of PTC from $224.00 to $235.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Barclays set a $233.00 price objective on shares of PTC in a report on Thursday, July 31st. Piper Sandler raised their price objective on shares of PTC from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of PTC from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, Stifel Nicolaus upped their price objective on shares of PTC from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $202.14.

Insider Buying and Selling at PTC

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $216.29, for a total value of $429,984.52. Following the transaction, the executive vice president owned 15,743 shares in the company, valued at $3,405,053.47. The trade was a 11.21% 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.

PTC Trading Up 1.2%

NASDAQ PTC traded up $2.47 during trading on Monday, hitting $208.31. The company had a trading volume of 940,721 shares, compared to its average volume of 990,663. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. PTC Inc. has a one year low of $133.38 and a one year high of $219.69. The company has a market cap of $24.95 billion, a price-to-earnings ratio of 49.13, a price-to-earnings-growth ratio of 2.19 and a beta of 1.17. The company's fifty day moving average is $190.12 and its 200-day moving average is $171.15.

PTC (NASDAQ:PTC - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.42. The firm had revenue of $643.94 million for the quarter, compared to the consensus estimate of $582.12 million. PTC had a net margin of 20.74% and a return on equity of 17.09%. The company's revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. On average, sell-side analysts predict that PTC Inc. will post 4.46 earnings per share 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.