Van Berkom & Associates Inc. Trims Holdings in PTC Inc. (NASDAQ:PTC)

Key Points

• Van Berkom & Associates Inc. sold 2,405 shares of PTC Inc., reducing its position by 22.3%, leaving them with 8,364 shares valued at approximately $1.3 million.
• PTC's recent earnings report showed an EPS of $1.79, exceeding expectations, with a revenue of $636.37 million for the quarter, marking a year-over-year growth of 5.5%.
• PTC is currently rated as a "Moderate Buy" by analysts, with an average price target of $194.08 after varying price adjustments from different research firms.

Van Berkom & Associates Inc. lowered its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 22.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,364 shares of the technology company's stock after selling 2,405 shares during the quarter. Van Berkom & Associates Inc.'s holdings in PTC were worth $1,296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. raised its holdings 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 acquiring an additional 1,773,653 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in PTC by 41.6% in the first quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock worth $445,687,000 after purchasing an additional 844,418 shares during the period. Norges Bank bought a new position in shares of PTC during the 4th quarter worth $128,852,000. GAMMA Investing LLC grew its position in shares of PTC by 13,184.0% during the 1st 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 in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of PTC during the 4th quarter worth $59,506,000. 95.14% of the stock is currently owned by institutional investors.

PTC Stock Down 0.4%

NASDAQ PTC traded down $0.84 during trading on Wednesday, hitting $203.35. The company's stock had a trading volume of 391,186 shares, compared to its average volume of 1,069,560. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $24.39 billion, a PE ratio of 55.86, a P/E/G ratio of 2.78 and a beta of 1.17. The business's 50 day simple moving average is $178.85 and its 200-day simple moving average is $169.25. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $213.14.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PTC. Barclays reissued an "equal weight" rating on shares of PTC in a research report on Tuesday. UBS Group reissued a "buy" rating on shares of PTC in a research report on Tuesday. Cantor Fitzgerald set a $120.00 price target on PTC and gave the stock an "overweight" rating in a research report on Tuesday. Mizuho dropped their price target on PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Oppenheimer increased their price target on PTC from $210.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, PTC presently has a consensus rating of "Moderate Buy" and a consensus target price of $188.79.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the sale, the executive vice president owned 17,731 shares of the company's stock, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company's stock.

About PTC

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.