Pictet Asset Management Holding SA Cuts Position in PTC Inc. (NASDAQ:PTC)

Pictet Asset Management Holding SA decreased its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 18.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,031,915 shares of the technology company's stock after selling 467,195 shares during the period. Pictet Asset Management Holding SA owned about 1.69% of PTC worth $373,608,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PTC. Raymond James Financial Inc. purchased a new position in shares of PTC in the 4th quarter worth approximately $146,712,000. Norges Bank purchased a new position in PTC in the fourth quarter worth $128,852,000. D1 Capital Partners L.P. bought a new position in PTC in the 3rd quarter valued at $84,549,000. Vanguard Group Inc. increased its position in shares of PTC by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company's stock valued at $2,627,961,000 after purchasing an additional 240,080 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of PTC by 33.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company's stock valued at $97,193,000 after purchasing an additional 135,677 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

Insider Transactions at PTC

In other news, Director Corinna Lathan sold 622 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction of $96,739.66. Following the completion of the transaction, the director now owns 7,604 shares of the company's stock, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of PTC from a "buy" rating to a "hold" rating in a research report on Monday, March 17th. Stifel Nicolaus raised their price target on shares of PTC from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price target on shares of PTC from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, December 2nd. Rosenblatt Securities reissued a "buy" rating and set a $204.00 price objective on shares of PTC in a report on Tuesday, February 4th. Finally, KeyCorp boosted their target price on PTC from $205.00 to $211.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.09.

PTC Price Performance

NASDAQ PTC traded up $0.36 during trading hours on Tuesday, hitting $155.31. The company had a trading volume of 329,414 shares, compared to its average volume of 851,689. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $18.69 billion, a price-to-earnings ratio of 48.04, a PEG ratio of 2.27 and a beta of 1.22. PTC Inc. has a 52 week low of $151.80 and a 52 week high of $203.09. The firm has a 50 day simple moving average of $169.18 and a 200 day simple moving average of $180.94.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Equities research analysts expect that PTC Inc. will post 4.46 earnings per share for the current year.

PTC 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.