SG Americas Securities LLC Reduces Stock Position in PTC Inc. (NASDAQ:PTC)

SG Americas Securities LLC cut its stake in PTC Inc. (NASDAQ:PTC) by 72.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,698 shares of the technology company’s stock after selling 17,445 shares during the quarter. SG Americas Securities LLC’s holdings in PTC were worth $1,038,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its position in shares of PTC by 11.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company’s stock valued at $3,174,432,000 after buying an additional 1,773,653 shares during the period. Raymond James Financial Inc. bought a new position in shares of PTC in the fourth quarter valued at approximately $146,712,000. Norges Bank purchased a new position in PTC during the fourth quarter valued at approximately $128,852,000. GAMMA Investing LLC increased its holdings in 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 acquiring an additional 342,784 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in PTC in the 4th quarter worth approximately $59,506,000. 95.14% of the stock is currently owned by institutional investors.

PTC Price Performance

Shares of PTC stock opened at $167.53 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $203.09. The company has a fifty day moving average of $161.49 and a 200-day moving average of $170.45. The stock has a market capitalization of $20.10 billion, a price-to-earnings ratio of 46.02, a price-to-earnings-growth ratio of 2.36 and a beta of 1.18.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.42. PTC had a net margin of 18.77% and a return on equity of 15.35%. The business had revenue of $636.37 million during the quarter, compared to analyst estimates of $608.64 million. During the same period in the prior year, the business posted $1.46 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Equities research analysts expect that PTC Inc. will post 4.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PTC. BMO Capital Markets raised their price target on shares of PTC from $183.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $160.00 price objective (down previously from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Wall Street Zen cut PTC from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Barclays decreased their target price on PTC from $215.00 to $175.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $204.00 price target on shares of PTC in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, PTC currently has a consensus rating of “Hold” and an average target price of $188.69.

Insider Buying and Selling

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were 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 now directly owns 17,731 shares of the company’s stock, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.32% of the stock is owned by insiders.

PTC Profile

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.