Sumitomo Mitsui Trust Holdings Inc. Sells 23,677 Shares of PTC Inc. (NASDAQ:PTC)

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in PTC Inc. (NASDAQ:PTC) by 3.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 765,069 shares of the technology company’s stock after selling 23,677 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.64% of PTC worth $144,552,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PTC. Wellington Management Group LLP lifted its position in shares of PTC by 1,409.3% in the fourth quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock valued at $294,006,000 after buying an additional 1,569,081 shares during the last quarter. Twin Focus Capital Partners LLC acquired a new stake in shares of PTC during the 4th quarter worth $177,081,000. Vanguard Group Inc. increased its position in shares of PTC by 6.6% in the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock worth $1,965,137,000 after purchasing an additional 859,227 shares during the period. Norges Bank acquired a new position in PTC in the fourth quarter valued at about $114,043,000. Finally, Balyasny Asset Management L.P. increased its holdings in shares of PTC by 173.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock worth $95,050,000 after buying an additional 344,853 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Stock Up 0.5 %

PTC stock traded up $0.90 during trading on Wednesday, hitting $183.79. 92,469 shares of the company were exchanged, compared to its average volume of 812,312. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $178.13 and its 200 day moving average is $179.11. PTC Inc. has a 52 week low of $134.61 and a 52 week high of $194.24. The company has a market capitalization of $22.00 billion, a P/E ratio of 76.52, a PEG ratio of 3.42 and a beta of 1.18.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.23. PTC had a net margin of 12.84% and a return on equity of 13.76%. The business had revenue of $603.07 million during the quarter, compared to the consensus estimate of $575.53 million. Analysts predict that PTC Inc. will post 3.48 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Catherine Kniker sold 1,254 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.45, for a total value of $217,506.30. Following the sale, the insider now directly owns 13,598 shares in the company, valued at approximately $2,358,573.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Catherine Kniker sold 1,254 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.45, for a total transaction of $217,506.30. Following the sale, the insider now owns 13,598 shares of the company’s stock, valued at approximately $2,358,573.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $178.20, for a total value of $712,800.00. Following the sale, the director now owns 52,137 shares in the company, valued at $9,290,813.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,846 shares of company stock valued at $2,137,631. Company insiders own 1.17% of the company’s stock.

Wall Street Analysts Forecast Growth

PTC has been the topic of several research reports. Rosenblatt Securities restated a “buy” rating and set a $195.00 price target on shares of PTC in a report on Friday, April 12th. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Mizuho reiterated a “neutral” rating and set a $190.00 price target (down previously from $200.00) on shares of PTC in a report on Tuesday, June 4th. Barclays increased their price objective on PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Robert W. Baird lifted their target price on PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and a consensus target price of $199.73.

PTC Company 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.