PTC Inc. (NASDAQ:PTC) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in PTC Inc. (NASDAQ:PTC) by 3.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 765,069 shares of the technology company’s stock after selling 23,677 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in PTC were worth $144,552,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its holdings in PTC by 25.2% during the 4th quarter. Handelsbanken Fonder AB now owns 25,300 shares of the technology company’s stock worth $4,426,000 after purchasing an additional 5,100 shares during the period. Portfolio Design Labs LLC acquired a new position in shares of PTC during the 4th quarter worth about $4,316,000. Norges Bank acquired a new position in shares of PTC during the 4th quarter worth about $114,043,000. USA Financial Formulas acquired a new position in shares of PTC during the 4th quarter worth about $1,355,000. Finally, Silverberg Bernstein Capital Management LLC acquired a new position in shares of PTC during the 4th quarter worth about $9,647,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Price Performance

NASDAQ PTC traded up $0.90 during mid-day trading on Wednesday, hitting $183.79. The stock had a trading volume of 92,469 shares, compared to its average volume of 812,312. PTC Inc. has a 52-week low of $134.61 and a 52-week high of $194.24. The company has a market cap of $22.00 billion, a price-to-earnings ratio of 76.52, a P/E/G ratio of 3.42 and a beta of 1.18. The company has a 50 day simple moving average of $178.13 and a 200 day simple moving average of $179.11. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.51.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, May 1st. The technology company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.23. The firm had revenue of $603.07 million for the quarter, compared to analysts’ expectations of $575.53 million. PTC had a return on equity of 13.76% and a net margin of 12.84%. Equities analysts forecast that PTC Inc. will post 3.48 EPS for the current fiscal year.

Insider Buying and Selling at PTC

In other news, COO Michael Ditullio sold 6,592 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the sale, the chief operating officer now owns 53,148 shares in the company, valued at $9,734,056.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Michael Ditullio sold 6,592 shares of PTC stock in a transaction on Friday, May 24th. The stock was sold at an average price of $183.15, for a total value of $1,207,324.80. Following the transaction, the chief operating officer now owns 53,148 shares in the company, valued at $9,734,056.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $178.20, for a total value of $712,800.00. Following the completion of the transaction, the director now owns 52,137 shares in the company, valued at approximately $9,290,813.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,846 shares of company stock worth $2,137,631. 1.17% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on PTC shares. Mizuho reaffirmed a “neutral” rating and set a $190.00 price objective (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Citigroup decreased their target price on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Robert W. Baird upped their target price on PTC from $210.00 to $216.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, Barclays upped their price objective on PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, PTC presently has an average rating of “Moderate Buy” and a consensus price target of $199.73.

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.