Pictet Asset Management Holding SA Sells 467,195 Shares of PTC Inc. (NASDAQ:PTC)

Pictet Asset Management Holding SA trimmed its stake in PTC Inc. (NASDAQ:PTC) by 18.7% during the fourth quarter, Holdings Channel reports. 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’s holdings in PTC were worth $373,608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of PTC. Vanguard Group Inc. boosted its holdings in PTC by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock worth $2,627,961,000 after buying an additional 240,080 shares during the period. State Street Corp lifted its stake in shares of PTC by 2.7% in the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock valued at $917,088,000 after acquiring an additional 133,370 shares during the last quarter. Geode Capital Management LLC boosted its position in PTC by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock valued at $533,341,000 after buying an additional 37,645 shares during the period. Franklin Resources Inc. grew its position in shares of PTC by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock worth $203,463,000 after buying an additional 30,525 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PTC by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 821,962 shares of the technology company’s stock valued at $151,134,000 after buying an additional 36,231 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Activity at PTC

In other news, Director Corinna Lathan sold 622 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction of $96,739.66. Following the transaction, the director now directly owns 7,604 shares of the company’s stock, valued at $1,182,650.12. This represents a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is owned by insiders.

PTC Trading Down 1.1 %

PTC stock opened at $160.31 on Friday. PTC Inc. has a 12 month low of $151.80 and a 12 month high of $203.09. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $170.50 and its two-hundred day simple moving average is $180.96. The company has a market capitalization of $19.29 billion, a price-to-earnings ratio of 49.48, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. As a group, equities analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PTC. Stifel Nicolaus lifted their price target on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $204.00 target price on shares of PTC in a research note on Tuesday, February 4th. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Citigroup lowered their price objective on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, KeyCorp upped their target price on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.09.

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.