Jennison Associates LLC lowered its holdings in shares of PTC Inc (NASDAQ:PTC) by 11.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 887,747 shares of the technology company’s stock after selling 116,786 shares during the period. Jennison Associates LLC owned approximately 0.75% of PTC worth $94,270,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of PTC. Principal Financial Group Inc. boosted its stake in PTC by 2.9% during the 1st quarter. Principal Financial Group Inc. now owns 497,705 shares of the technology company’s stock valued at $38,826,000 after purchasing an additional 14,221 shares during the period. State of Alaska Department of Revenue boosted its stake in PTC by 32.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 14,010 shares of the technology company’s stock valued at $1,314,000 after purchasing an additional 3,450 shares during the period. Xact Kapitalforvaltning AB boosted its stake in PTC by 18.7% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 17,739 shares of the technology company’s stock valued at $1,664,000 after purchasing an additional 2,800 shares during the period. Bank of Montreal Can boosted its stake in PTC by 4.3% during the 2nd quarter. Bank of Montreal Can now owns 19,053 shares of the technology company’s stock valued at $1,788,000 after purchasing an additional 779 shares during the period. Finally, Amalgamated Bank boosted its stake in PTC by 8.6% during the 2nd quarter. Amalgamated Bank now owns 27,900 shares of the technology company’s stock valued at $2,617,000 after purchasing an additional 2,220 shares during the period. 95.31% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Phillip M. Fernandez sold 250 shares of the stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $102.46, for a total value of $25,615.00. Following the completion of the transaction, the director now directly owns 20,912 shares of the company’s stock, valued at approximately $2,142,643.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders sold 750 shares of company stock valued at $72,075. 1.19% of the stock is currently owned by insiders.
Shares of PTC opened at $87.10 on Friday. PTC Inc has a 1 year low of $59.40 and a 1 year high of $107.44. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $10.26 billion, a PE ratio of 97.87, a P/E/G ratio of 2.42 and a beta of 1.54.
PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, October 24th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. PTC had a return on equity of 11.97% and a net margin of 4.19%. The business had revenue of $312.52 million during the quarter, compared to analysts’ expectations of $322.00 million. During the same period in the prior year, the firm posted $0.34 EPS. PTC’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts expect that PTC Inc will post 1.11 earnings per share for the current year.
Several equities analysts have commented on the company. BidaskClub cut PTC from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Cowen set a $105.00 price target on PTC and gave the company a “buy” rating in a report on Sunday, October 28th. Guggenheim assumed coverage on PTC in a report on Tuesday, August 7th. They issued a “buy” rating and a $115.00 price target for the company. Zacks Investment Research raised PTC from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, JPMorgan Chase & Co. cut their price target on PTC to $96.00 in a report on Friday, October 26th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $98.63.
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PTC Inc develops and delivers software products and solutions worldwide. It operates through three segments: IoT Group, Solutions Group, and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things (IoT) applications and augmented reality (AR) experiences; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
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