JPMorgan Chase & Co. Sells 97,287 Shares of PTC Inc. $PTC

JPMorgan Chase & Co. reduced its position in PTC Inc. (NASDAQ:PTC) by 11.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 775,054 shares of the technology company’s stock after selling 97,287 shares during the period. JPMorgan Chase & Co.’s holdings in PTC were worth $133,577,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new stake in PTC in the first quarter worth about $39,000. SVB Wealth LLC bought a new position in shares of PTC in the 1st quarter valued at about $41,000. Assetmark Inc. grew its position in shares of PTC by 339.3% during the 2nd quarter. Assetmark Inc. now owns 268 shares of the technology company’s stock worth $46,000 after buying an additional 207 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of PTC by 34.4% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company’s stock worth $46,000 after buying an additional 76 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in PTC by 247.2% in the first quarter. Covestor Ltd now owns 427 shares of the technology company’s stock valued at $66,000 after buying an additional 304 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Stock Performance

PTC stock opened at $173.46 on Thursday. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $219.69. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. The firm has a market cap of $20.72 billion, a PE ratio of 40.91, a P/E/G ratio of 1.90 and a beta of 1.15. The business’s 50-day moving average price is $193.71 and its two-hundred day moving average price is $191.54.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share (EPS) for the quarter. PTC had a return on equity of 17.09% and a net margin of 20.74%.The company had revenue of $1.76 billion during the quarter. As a group, research analysts forecast that PTC Inc. will post 4.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of PTC from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of PTC in a report on Tuesday. Wall Street Zen upgraded PTC from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 20th. Royal Bank Of Canada raised their target price on PTC from $224.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, Robert W. Baird set a $255.00 target price on PTC in a research report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.92.

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.