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

Desjardins Global Asset Management Inc. reduced its stake in PTC Inc. (NASDAQ:PTC) by 94.3% during the 4th quarter, HoldingsChannel.com reports. 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 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of PTC by 6.6% during the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock worth $1,965,137,000 after acquiring an additional 859,227 shares during the last quarter. State Street Corp grew its position in shares of PTC by 3.6% during the first quarter. State Street Corp now owns 4,151,605 shares of the technology company’s stock worth $532,360,000 after acquiring an additional 142,852 shares during the last quarter. Select Equity Group L.P. grew its position in shares of PTC by 5.7% during the fourth quarter. Select Equity Group L.P. now owns 3,504,626 shares of the technology company’s stock worth $420,695,000 after acquiring an additional 190,348 shares during the last quarter. Invesco Ltd. grew its position in shares of PTC by 1.6% during the first quarter. Invesco Ltd. now owns 2,576,733 shares of the technology company’s stock worth $277,566,000 after acquiring an additional 41,474 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of PTC by 3.0% during the first quarter. Geode Capital Management LLC now owns 2,335,464 shares of the technology company’s stock worth $298,852,000 after acquiring an additional 68,055 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Trading Up 0.4 %

NASDAQ:PTC opened at $176.37 on Friday. The company has a market capitalization of $21.09 billion, a PE ratio of 89.53, a price-to-earnings-growth ratio of 3.14 and a beta of 1.17. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.80. PTC Inc. has a 52-week low of $120.62 and a 52-week high of $194.24. The stock has a fifty day simple moving average of $183.49 and a 200-day simple moving average of $168.64.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. The business had revenue of $550.21 million during the quarter, compared to the consensus estimate of $538.59 million. PTC had a return on equity of 12.87% and a net margin of 10.86%. On average, equities research analysts expect that PTC Inc. will post 3.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Oppenheimer raised their target price on shares of PTC from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Barclays lifted their price objective on shares of PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. BMO Capital Markets lifted their price objective on shares of PTC from $195.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Piper Sandler lifted their price objective on shares of PTC from $155.00 to $177.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $196.73.

Insider Buying and Selling

In related news, CEO James E. Heppelmann sold 35,000 shares of PTC stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the sale, the chief executive officer now owns 968,357 shares in the company, valued at approximately $171,631,594.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO James E. Heppelmann sold 35,000 shares of PTC stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the sale, the chief executive officer now owns 968,357 shares in the company, valued at approximately $171,631,594.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Catherine Kniker sold 1,330 shares of PTC stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the sale, the insider now 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. In the last quarter, insiders sold 36,415 shares of company stock worth $6,457,478. 1.17% of the stock is owned by corporate insiders.

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.