Desjardins Global Asset Management Inc. Cuts Stock Holdings in PTC Inc. (NASDAQ:PTC)

Desjardins Global Asset Management Inc. decreased its holdings in shares of PTC Inc. (NASDAQ:PTC) by 94.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 295 shares of the technology company’s stock after selling 4,922 shares during the period. Desjardins Global Asset Management Inc.’s holdings in PTC were worth $52,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new position in shares of PTC in the 2nd quarter worth approximately $25,000. Clear Street Markets LLC grew its position in shares of PTC by 93.5% in the 1st quarter. Clear Street Markets LLC now owns 207 shares of the technology company’s stock worth $27,000 after buying an additional 100 shares during the last quarter. Legacy Financial Group LLC purchased a new position in shares of PTC in the 3rd quarter worth approximately $28,000. Resources Management Corp CT ADV grew its position in PTC by 4,285.7% during the 3rd quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock worth $43,000 after purchasing an additional 300 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its position in PTC by 59.9% during the 1st quarter. Belpointe Asset Management LLC now owns 363 shares of the technology company’s stock worth $47,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insiders Place Their Bets

In other PTC news, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the transaction, the insider now directly owns 13,864 shares in the company, valued at $2,489,835.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PTC news, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the transaction, the chief executive officer now directly owns 968,357 shares in the company, valued at $171,631,594.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the sale, the insider now directly owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,415 shares of company stock worth $6,457,478. Company insiders own 1.17% of the company’s stock.

Wall Street Analysts Forecast Growth

PTC has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $202.00 target price on shares of PTC in a research report on Thursday, February 1st. JPMorgan Chase & Co. raised shares of PTC from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $130.00 to $200.00 in a research report on Thursday, January 4th. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Thursday. Rosenblatt Securities reissued a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Friday, April 12th. Finally, Robert W. Baird reissued an “outperform” rating and set a $210.00 target price on shares of PTC in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $196.73.

PTC Stock Performance

PTC opened at $176.37 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a fifty day moving average price of $183.49 and a 200 day moving average price of $168.64. PTC Inc. has a 1 year low of $120.62 and a 1 year high of $194.24. The stock has a market cap of $21.09 billion, a P/E ratio of 89.53, a P/E/G ratio of 3.14 and a beta of 1.17.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. PTC had a net margin of 10.86% and a return on equity of 12.87%. The firm had revenue of $550.21 million during the quarter, compared to analysts’ expectations of $538.59 million. Equities research analysts anticipate that PTC Inc. will post 3.47 earnings per share for the current year.

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.