Jennison Associates LLC Trims Position in PTC Inc. (NASDAQ:PTC)

Jennison Associates LLC cut its holdings in shares of PTC Inc. (NASDAQ:PTC) by 99.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,034 shares of the technology company’s stock after selling 766,463 shares during the quarter. Jennison Associates LLC’s holdings in PTC were worth $843,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of PTC by 15.7% during the 2nd quarter. Vanguard Group Inc. now owns 11,725,748 shares of the technology company’s stock worth $1,656,380,000 after purchasing an additional 1,587,384 shares during the period. State Street Corp grew its stake in shares of PTC by 23.5% during the 2nd quarter. State Street Corp now owns 4,034,527 shares of the technology company’s stock worth $569,917,000 after purchasing an additional 768,389 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of PTC by 54.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,632,224 shares of the technology company’s stock worth $513,088,000 after purchasing an additional 1,273,654 shares during the period. Ownership Capital B.V. grew its stake in shares of PTC by 3.3% during the 3rd quarter. Ownership Capital B.V. now owns 3,136,552 shares of the technology company’s stock worth $375,728,000 after purchasing an additional 99,373 shares during the period. Finally, Invesco Ltd. grew its stake in shares of PTC by 37.6% during the 2nd quarter. Invesco Ltd. now owns 2,727,542 shares of the technology company’s stock worth $385,294,000 after purchasing an additional 745,031 shares during the period. 93.05% of the stock is owned by institutional investors.

Shares of PTC opened at $115.88 on Friday. PTC Inc. has a 52-week low of $105.49 and a 52-week high of $153.73. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71. The firm’s fifty day moving average is $118.18 and its two-hundred day moving average is $126.68. The stock has a market cap of $13.66 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 2.89 and a beta of 1.29.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, November 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.73. PTC had a net margin of 26.39% and a return on equity of 18.55%. The company had revenue of $480.66 million for the quarter, compared to analysts’ expectations of $430.30 million. During the same quarter in the previous year, the company posted $0.54 EPS. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. As a group, research analysts anticipate that PTC Inc. will post 3.03 earnings per share for the current year.

A number of equities research analysts have recently commented on the stock. Citigroup dropped their price objective on shares of PTC from $155.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, November 4th. JPMorgan Chase & Co. cut shares of PTC from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $175.00 to $138.00 in a research note on Tuesday, December 14th. Barclays dropped their price target on shares of PTC from $161.00 to $149.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 13th. Rosenblatt Securities lifted their price target on shares of PTC from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, November 4th. Finally, Mizuho reissued a “buy” rating and issued a $140.00 price target on shares of PTC in a research note on Thursday, December 16th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, PTC presently has an average rating of “Buy” and a consensus target price of $150.11.

In related news, EVP Staats Aaron C. Von sold 2,141 shares of the business’s stock in a transaction dated Monday, November 15th. The shares were sold at an average price of $120.24, for a total value of $257,433.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James E. Heppelmann sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 16th. The shares were sold at an average price of $121.91, for a total transaction of $1,828,650.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,623 shares of company stock worth $3,585,796. 10.15% of the stock is currently owned by corporate insiders.

PTC Profile

PTC, Inc engages in the development and provision of software-based product management and development solutions. It operates through the Software products and Professional Services segments. The Software Products segment includes license, subscription and related support revenue for its products. The Professional Services segment consists of consulting, implementation and training services.

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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