PTC Inc. (NASDAQ:PTC) Holdings Reduced by Bellecapital International Ltd.

Bellecapital International Ltd. lessened its holdings in shares of PTC Inc. (NASDAQ:PTC) by 25.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,538 shares of the technology company’s stock after selling 535 shares during the quarter. Bellecapital International Ltd.’s holdings in PTC were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of PTC in the 4th quarter worth approximately $30,000. Allworth Financial LP raised its holdings in PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. UMB Bank n.a. lifted its position in PTC by 153.4% in the first quarter. UMB Bank n.a. now owns 294 shares of the technology company’s stock worth $46,000 after purchasing an additional 178 shares during the period. Pinney & Scofield Inc. acquired a new stake in PTC in the fourth quarter worth approximately $47,000. Finally, Kapitalo Investimentos Ltda bought a new position in PTC during the 4th quarter valued at $51,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Trading Up 0.0%

Shares of NASDAQ PTC opened at $171.00 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $203.09. The company has a market cap of $20.51 billion, a price-to-earnings ratio of 52.78, a P/E/G ratio of 2.27 and a beta of 1.18. The business has a fifty day simple moving average of $159.13 and a 200-day simple moving average of $171.47.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.42. PTC had a return on equity of 14.49% and a net margin of 16.95%. The firm had revenue of $636.37 million for the quarter, compared to the consensus estimate of $608.64 million. During the same quarter in the previous year, the company earned $1.46 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts predict that PTC Inc. will post 4.46 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PTC. KeyCorp lowered their price target on PTC from $211.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Oppenheimer cut their price objective on PTC from $210.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Piper Sandler lowered their target price on PTC from $202.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Barclays dropped their price target on shares of PTC from $215.00 to $175.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, BMO Capital Markets upped 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. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $187.15.

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was 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 owns 17,731 shares of the company’s stock, valued at $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Corinna Lathan sold 622 shares of PTC stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the transaction, the director now owns 7,604 shares in the company, valued at $1,182,650.12. This represents a 7.56% decrease in their position. The disclosure for this sale can be found here. 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.