PTC Inc. $PTC Stake Reduced by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in shares of PTC Inc. (NASDAQ:PTC) by 21.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,896,327 shares of the technology company’s stock after selling 784,217 shares during the quarter. Pictet Asset Management Holding SA’s holdings in PTC were worth $406,320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of PTC by 10.2% in the 2nd quarter. State Street Corp now owns 6,452,323 shares of the technology company’s stock valued at $733,048,000 after acquiring an additional 596,955 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of PTC by 0.3% during the first quarter. Janus Henderson Group PLC now owns 3,530,070 shares of the technology company’s stock worth $503,000,000 after purchasing an additional 11,278 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of PTC during the second quarter worth about $418,553,000. Amundi grew its holdings in shares of PTC by 151.9% during the first quarter. Amundi now owns 1,725,555 shares of the technology company’s stock worth $245,885,000 after purchasing an additional 1,040,656 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of PTC by 52.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,228,905 shares of the technology company’s stock worth $172,415,000 after purchasing an additional 423,096 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of PTC from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. raised shares of PTC from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $145.00 to $205.00 in a research note on Monday, October 5th. Stifel Nicolaus set a $205.00 price target on shares of PTC in a report on Monday, October 5th. Deutsche Bank Aktiengesellschaft cut shares of PTC to a “hold” rating and set a $205.00 price objective on the stock. in a research report on Monday, October 5th. Finally, Loop Capital downgraded shares of PTC from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $200.00 to $205.00 in a report on Monday, October 5th. Two analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $200.06.

PTC Trading Up 0.2%

Shares of PTC stock opened at $195.07 on Friday. The business has a 50-day moving average price of $166.98 and a two-hundred day moving average price of $148.11. PTC Inc. has a 12-month low of $108.50 and a 12-month high of $196.05. The company has a quick ratio of 1.03, a current ratio of 1.63 and a debt-to-equity ratio of 0.47. The firm has a market cap of $21.17 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 2.56 and a beta of 0.93.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, November 4th. The technology company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.97 by $0.06. The firm had revenue of $673.25 million for the quarter, compared to analyst estimates of $663.56 million. PTC had a return on equity of 20.03% and a net margin of 37.80%. The company’s revenue was down 24.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.41 EPS. Equities analysts anticipate that PTC Inc. will post 7.12 EPS for the current fiscal year.

Insider Transactions at PTC

In other PTC news, Director Corinna Lathan sold 1,750 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $195.75, for a total value of $342,562.50. Following the completion of the sale, the director owned 6,679 shares of the company’s stock, valued at $1,307,414.25. This represents a 20.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

About PTC

PTC Inc develops software that helps manufacturers design, build, operate and service products. Its offerings support computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management and industrial connectivity, helping companies manage product data and coordinate work across engineering and manufacturing.

PTC’s products include Creo for 3D CAD, Windchill for PLM, Codebeamer for application lifecycle management, and ThingWorx for industrial connectivity and application development.