PTC Inc. $PTC Stock: Pictet Asset Management Holding SA Reduces Position

Pictet Asset Management Holding SA trimmed its position in shares of PTC Inc. (NASDAQ:PTC) by 21.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,896,327 shares of the technology company’s stock after selling 784,217 shares during the period. Pictet Asset Management Holding SA owned 2.67% of PTC worth $406,320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Jupiter Topco LLC purchased a new position in shares of PTC during the 2nd quarter valued at $418,553,000. Amundi increased its holdings in PTC by 151.9% in the 1st quarter. Amundi now owns 1,725,555 shares of the technology company’s stock worth $245,885,000 after acquiring an additional 1,040,656 shares during the last quarter. Legal & General Group Plc purchased a new stake in PTC in the 2nd quarter worth about $91,045,000. State Street Corp increased its holdings in PTC by 10.2% in the 2nd quarter. State Street Corp now owns 6,452,323 shares of the technology company’s stock worth $733,048,000 after acquiring an additional 596,955 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in PTC in the 2nd quarter valued at about $66,753,000. 95.14% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Corinna Lathan sold 1,750 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $195.75, for a total value of $342,562.50. Following the completion of the transaction, the director directly owned 6,679 shares in the company, valued at approximately $1,307,414.25. This trade represents a 20.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

PTC Stock Performance

Shares of PTC opened at $195.07 on Friday. The stock’s 50-day simple moving average is $166.98 and its 200 day simple moving average is $148.11. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 2.56 and a beta of 0.93. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.63. PTC Inc. has a 52-week low of $108.50 and a 52-week high of $196.05.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, November 4th. The technology company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. The business had revenue of $673.25 million during the quarter, compared to analyst estimates of $663.56 million. PTC had a return on equity of 20.03% and a net margin of 37.80%. The company’s quarterly revenue was down 24.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.41 EPS. Research analysts forecast that PTC Inc. will post 7.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PTC shares. Rosenblatt Securities downgraded shares of PTC from a “buy” rating to a “neutral” rating and upped their price objective for the company from $190.00 to $205.00 in a report on Monday, October 5th. Barclays downgraded shares of PTC from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $155.00 to $205.00 in a research note on Monday, October 5th. Piper Sandler lowered their price target on shares of PTC from $175.00 to $157.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. KeyCorp cut shares of PTC from an “overweight” rating to a “sector weight” rating in a research note on Monday, October 5th. Finally, Royal Bank Of Canada downgraded shares of PTC from a “buy” rating to a “sector perform” rating and raised their price objective for the stock from $195.00 to $306.00 in a report on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, PTC currently has a consensus rating of “Hold” and a consensus price target of $200.06.

PTC Company Profile

PTC Inc develops software that helps manufacturers design, build, operate and service products. Its offerings support computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management and industrial connectivity, helping companies manage product data and coordinate work across engineering and manufacturing.

PTC’s products include Creo for 3D CAD, Windchill for PLM, Codebeamer for application lifecycle management, and ThingWorx for industrial connectivity and application development.