PTC Inc. (NASDAQ:PTC) Shares Bought by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lifted its stake in shares of PTC Inc. (NASDAQ:PTC) by 26.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,870 shares of the technology company’s stock after buying an additional 807 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in PTC were worth $699,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its stake in shares of PTC by 66.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock valued at $140,577,000 after purchasing an additional 310,092 shares during the period. Matrix Capital Management Company LP purchased a new stake in PTC during the 1st quarter worth $56,076,000. Vanguard Group Inc. increased its stake in PTC by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock worth $2,596,209,000 after buying an additional 205,673 shares during the period. Clearbridge Investments LLC purchased a new position in PTC in the 1st quarter valued at about $28,510,000. Finally, Railway Pension Investments Ltd purchased a new position in PTC in the 2nd quarter valued at about $24,416,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PTC shares. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Robert W. Baird raised their price target on shares of PTC from $216.00 to $226.00 and gave the stock an “outperform” rating in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $202.00 price target on shares of PTC in a research note on Thursday, August 1st. Piper Sandler increased their price objective on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.09.

PTC Price Performance

PTC opened at $182.93 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $176.84 and its 200 day moving average price is $177.58. PTC Inc. has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The firm has a market cap of $21.98 billion, a price-to-earnings ratio of 74.67, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. PTC had a return on equity of 13.36% and a net margin of 13.32%. The business had revenue of $518.64 million for the quarter, compared to analysts’ expectations of $533.04 million. As a group, sell-side analysts expect that PTC Inc. will post 3.51 earnings per share for the current year.

Insider Buying and Selling at PTC

In related news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the sale, the director now owns 44,137 shares of the company’s stock, valued at $7,562,433.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PTC news, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the transaction, the executive vice president now owns 13,902 shares in the company, valued at approximately $2,363,340. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the transaction, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,000 shares of company stock worth $1,714,010. 1.17% of the stock is owned by insiders.

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.