PTC Inc. (NASDAQ:PTC) Shares Sold by Perpetual Ltd

Perpetual Ltd reduced its position in shares of PTC Inc. (NASDAQ:PTC) by 2.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 567,706 shares of the technology company’s stock after selling 13,827 shares during the period. PTC comprises approximately 1.0% of Perpetual Ltd’s holdings, making the stock its 28th largest holding. Perpetual Ltd’s holdings in PTC were worth $107,262,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PTC. Kestra Advisory Services LLC increased its position in PTC by 78.1% in the third quarter. Kestra Advisory Services LLC now owns 3,771 shares of the technology company’s stock worth $534,000 after buying an additional 1,654 shares during the period. Rafferty Asset Management LLC increased its position in PTC by 1.1% in the third quarter. Rafferty Asset Management LLC now owns 31,141 shares of the technology company’s stock worth $4,412,000 after buying an additional 347 shares during the period. Korea Investment CORP increased its position in PTC by 0.5% in the third quarter. Korea Investment CORP now owns 70,753 shares of the technology company’s stock worth $10,024,000 after buying an additional 356 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of PTC in the third quarter worth $718,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of PTC by 10.5% in the third quarter. Envestnet Asset Management Inc. now owns 82,089 shares of the technology company’s stock worth $11,630,000 after purchasing an additional 7,786 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

PTC Stock Up 1.7 %

PTC stock traded up $3.00 during mid-day trading on Thursday, hitting $176.03. The company’s stock had a trading volume of 629,485 shares, compared to its average volume of 815,808. The firm’s 50 day moving average is $178.03 and its 200 day moving average is $178.19. The company has a market cap of $21.07 billion, a PE ratio of 73.39, a price-to-earnings-growth ratio of 3.25 and a beta of 1.18. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.76 and a quick ratio of 0.76. PTC Inc. has a 52-week low of $134.61 and a 52-week high of $194.24.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.23. The firm had revenue of $603.07 million during the quarter, compared to the consensus estimate of $575.53 million. PTC had a return on equity of 13.76% and a net margin of 12.84%. On average, analysts anticipate that PTC Inc. will post 3.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PTC. Citigroup decreased their price target on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Robert W. Baird increased their price target on PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price target on shares of PTC in a research note on Friday, April 12th. Finally, Barclays increased their price target on PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $199.73.

Insider Transactions at PTC

In other news, COO Michael Ditullio sold 6,592 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the completion of the sale, the chief operating officer now directly owns 53,148 shares of the company’s stock, valued at approximately $9,734,056.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $178.20, for a total value of $712,800.00. Following the transaction, the director now directly owns 52,137 shares of the company’s stock, valued at approximately $9,290,813.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Ditullio sold 6,592 shares of PTC stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $183.15, for a total value of $1,207,324.80. Following the sale, the chief operating officer now directly owns 53,148 shares in the company, valued at approximately $9,734,056.20. The disclosure for this sale can be found here. Insiders sold 11,846 shares of company stock valued at $2,137,631 in the last three months. Corporate insiders own 1.17% 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.