PTC Inc. (NASDAQ:PTC) Holdings Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in PTC Inc. (NASDAQ:PTC) by 18.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,031,915 shares of the technology company’s stock after selling 467,195 shares during the quarter. Pictet Asset Management Holding SA owned 1.69% of PTC worth $373,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the stock. Bank Pictet & Cie Europe AG increased its holdings in shares of PTC by 1.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock valued at $722,000 after acquiring an additional 55 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of PTC by 1.6% in the 4th quarter. Wedmont Private Capital now owns 4,026 shares of the technology company’s stock worth $734,000 after buying an additional 64 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after acquiring an additional 69 shares during the period. Otter Creek Advisors LLC boosted its position in PTC by 0.4% in the fourth quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company’s stock valued at $3,527,000 after buying an additional 80 shares in the last quarter. Finally, Kirtland Hills Capital Management LLC boosted its stake in PTC by 3.2% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 2,948 shares of the technology company’s stock worth $542,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PTC shares. KeyCorp increased their price objective on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Stifel Nicolaus boosted their price objective on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Rosenblatt Securities restated a “buy” rating and issued a $204.00 price target on shares of PTC in a report on Tuesday, February 4th. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. increased their price target on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Stock Down 1.1 %

Shares of PTC opened at $160.31 on Friday. PTC Inc. has a 52 week low of $151.80 and a 52 week high of $203.09. The firm has a market cap of $19.29 billion, a P/E ratio of 49.48, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The firm’s 50-day simple moving average is $170.50 and its 200 day simple moving average is $180.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. On average, analysts forecast that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Activity at PTC

In related news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the transaction, the director now directly owns 7,604 shares of the company’s stock, valued at $1,182,650.12. The trade was a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

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.