PTC Inc. (NASDAQ:PTC) Stake Lowered by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its position in shares of PTC Inc. (NASDAQ:PTC) by 24.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,379 shares of the technology company’s stock after selling 39,923 shares during the period. Envestnet Asset Management Inc. owned about 0.11% of PTC worth $13,969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Belpointe Asset Management LLC bought a new position in shares of PTC during the 4th quarter valued at $27,000. Desjardins Global Asset Management Inc. bought a new position in PTC during the first quarter valued at about $43,000. Fred Alger Management LLC lifted its position in shares of PTC by 102.4% in the fourth quarter. Fred Alger Management LLC now owns 417 shares of the technology company’s stock worth $50,000 after buying an additional 211 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of PTC during the 1st quarter worth about $50,000. Finally, HM Payson & Co. acquired a new position in shares of PTC during the 1st quarter valued at about $64,000. Institutional investors and hedge funds own 92.23% of the company’s stock.

PTC Stock Down 0.3 %

Shares of NASDAQ:PTC opened at $146.75 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.67. The firm has a market cap of $17.44 billion, a P/E ratio of 57.10, a P/E/G ratio of 3.90 and a beta of 1.18. PTC Inc. has a 12 month low of $101.82 and a 12 month high of $152.09. The company’s 50-day moving average price is $143.14 and its two-hundred day moving average price is $133.97.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, July 26th. The technology company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04). PTC had a return on equity of 15.41% and a net margin of 14.90%. The firm had revenue of $542.34 million for the quarter, compared to the consensus estimate of $530.35 million. As a group, research analysts forecast that PTC Inc. will post 2.94 EPS for the current fiscal year.

Insider Activity

In other PTC news, Director Paul A. Lacy sold 2,500 shares of PTC stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $140.00, for a total transaction of $350,000.00. Following the completion of the sale, the director now owns 24,136 shares of the company’s stock, valued at approximately $3,379,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Catherine Kniker sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $140.00, for a total value of $280,000.00. Following the completion of the transaction, the insider now directly owns 10,114 shares in the company, valued at approximately $1,415,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul A. Lacy sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $140.00, for a total transaction of $350,000.00. Following the sale, the director now owns 24,136 shares in the company, valued at $3,379,040. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,300 shares of company stock valued at $1,912,040. 8.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PTC shares. Barclays boosted their target price on PTC from $163.00 to $166.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. BMO Capital Markets assumed coverage on PTC in a research note on Wednesday, May 24th. They set an “outperform” rating and a $166.00 price target on the stock. StockNews.com began coverage on PTC in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Robert W. Baird upped their target price on shares of PTC from $168.00 to $173.00 in a research note on Monday, July 17th. Finally, Mizuho raised their price target on shares of PTC from $170.00 to $180.00 in a research note on Friday, July 28th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $160.92.

PTC Company Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers end-to-end capabilities to enable digital transformation; and Vuforia, which enables the creation of AR.