Hennion & Walsh Asset Management Inc. Decreases Stock Holdings in PTC Inc. (NASDAQ:PTC)

Hennion & Walsh Asset Management Inc. lowered its stake in shares of PTC Inc. (NASDAQ:PTC) by 3.3% during the first quarter, Holdings Channel.com reports. The firm owned 3,446 shares of the technology company’s stock after selling 116 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in PTC were worth $651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its holdings in shares of PTC by 1,409.3% during the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock valued at $294,006,000 after purchasing an additional 1,569,081 shares during the last quarter. Twin Focus Capital Partners LLC purchased a new stake in PTC in the fourth quarter valued at about $177,081,000. Vanguard Group Inc. raised its stake in PTC by 6.6% in the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock valued at $1,965,137,000 after buying an additional 859,227 shares during the last quarter. Norges Bank acquired a new stake in PTC in the fourth quarter worth about $114,043,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of PTC by 173.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock worth $95,050,000 after acquiring an additional 344,853 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling

In other news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $178.20, for a total value of $712,800.00. Following the completion of the sale, the director now directly owns 52,137 shares in the company, valued at $9,290,813.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Catherine Kniker sold 1,254 shares of PTC stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.45, for a total value of $217,506.30. Following the sale, the insider now directly owns 13,598 shares in the company, valued at approximately $2,358,573.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction that occurred 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 sold 11,846 shares of company stock valued at $2,137,631. 1.17% of the stock is owned by company insiders.

PTC Trading Up 1.0 %

PTC stock opened at $182.89 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.51. The firm has a market cap of $21.89 billion, a PE ratio of 76.52, a P/E/G ratio of 3.42 and a beta of 1.18. The stock’s 50 day simple moving average is $178.13 and its two-hundred day simple moving average is $179.11. PTC Inc. has a 12 month low of $134.61 and a 12 month high of $194.24.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.87 by $0.23. The company had revenue of $603.07 million for the quarter, compared to analyst estimates of $575.53 million. PTC had a net margin of 12.84% and a return on equity of 13.76%. Analysts anticipate that PTC Inc. will post 3.48 earnings per share for the current year.

Analysts Set New Price Targets

PTC has been the subject of a number of recent analyst reports. Barclays lifted their target price on shares of PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Robert W. Baird raised their target price on PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price target on shares of PTC in a research note on Friday, April 12th. Finally, Citigroup reduced their price objective on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Three 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 currently has a consensus rating of “Moderate Buy” and a consensus target price 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.