Royal London Asset Management Ltd. Cuts Holdings in PTC Inc (PTC)

Royal London Asset Management Ltd. decreased its position in shares of PTC Inc (NASDAQ:PTC) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,586 shares of the technology company’s stock after selling 5,178 shares during the period. Royal London Asset Management Ltd.’s holdings in PTC were worth $4,112,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its stake in PTC by 8,190.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,497,800 shares of the technology company’s stock worth $42,000 after purchasing an additional 3,455,607 shares during the last quarter. Norges Bank bought a new stake in shares of PTC during the fourth quarter valued at approximately $197,240,000. BlackRock Inc. raised its stake in shares of PTC by 10.1% during the fourth quarter. BlackRock Inc. now owns 11,472,093 shares of the technology company’s stock valued at $951,035,000 after acquiring an additional 1,055,829 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in PTC by 22,755.6% during the third quarter. Neuberger Berman Group LLC now owns 760,863 shares of the technology company’s stock valued at $80,796,000 after buying an additional 757,534 shares during the period. Finally, American Century Companies Inc. increased its holdings in PTC by 49.3% during the fourth quarter. American Century Companies Inc. now owns 942,970 shares of the technology company’s stock valued at $78,172,000 after buying an additional 311,508 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

In other news, insider James E. Heppelmann sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $89.02, for a total value of $1,335,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kathleen Mitford sold 815 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $91.47, for a total transaction of $74,548.05. Following the completion of the sale, the executive vice president now directly owns 14,271 shares of the company’s stock, valued at approximately $1,305,368.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,487 shares of company stock valued at $6,320,787. Insiders own 9.91% of the company’s stock.

Shares of PTC stock traded down $1.77 during trading hours on Wednesday, reaching $84.63. The stock had a trading volume of 570,021 shares, compared to its average volume of 1,178,240. PTC Inc has a twelve month low of $76.67 and a twelve month high of $107.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $9.74 billion, a P/E ratio of 94.03, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. PTC had a net margin of 3.06% and a return on equity of 11.68%. The firm had revenue of $315.50 million during the quarter, compared to the consensus estimate of $312.29 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts forecast that PTC Inc will post 1.05 EPS for the current year.

Several brokerages recently issued reports on PTC. Wedbush lowered shares of PTC from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $104.00 to $100.00 in a report on Thursday, April 25th. JPMorgan Chase & Co. lowered shares of PTC from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $88.00 to $85.00 in a report on Thursday, April 25th. Zacks Investment Research raised shares of PTC from a “hold” rating to a “strong-buy” rating and set a $109.00 price target on the stock in a report on Friday, April 12th. BidaskClub raised shares of PTC from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Finally, Mizuho began coverage on shares of PTC in a report on Thursday, April 11th. They issued a “buy” rating and a $120.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company. PTC currently has a consensus rating of “Buy” and a consensus price target of $103.88.

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PTC Profile

PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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