Mutual of America Capital Management LLC Trims Stake in PTC Inc. (NASDAQ:PTC)

Mutual of America Capital Management LLC lessened its position in PTC Inc. (NASDAQ:PTC) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,035 shares of the technology company’s stock after selling 572 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PTC were worth $4,730,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PTC. Principal Securities Inc. purchased a new position in PTC during the 4th quarter valued at $46,000. Norges Bank purchased a new stake in shares of PTC during the fourth quarter valued at $114,043,000. PNC Financial Services Group Inc. grew its holdings in shares of PTC by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,612 shares of the technology company’s stock worth $807,000 after purchasing an additional 113 shares during the last quarter. UBS Group AG lifted its holdings in PTC by 1.1% during the 4th quarter. UBS Group AG now owns 190,935 shares of the technology company’s stock valued at $33,406,000 after buying an additional 2,056 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in PTC by 10.2% during the 4th quarter. Wells Fargo & Company MN now owns 96,290 shares of the technology company’s stock valued at $16,847,000 after buying an additional 8,936 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Trading Down 1.8 %

NASDAQ:PTC opened at $175.90 on Friday. PTC Inc. has a 52 week low of $134.61 and a 52 week high of $194.24. The firm has a 50 day moving average of $174.25 and a 200 day moving average of $178.57. 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 stock has a market capitalization of $21.06 billion, a price-to-earnings ratio of 73.60, a PEG ratio of 3.24 and a beta of 1.18.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $518.64 million for the quarter, compared to the consensus estimate of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. As a group, sell-side analysts anticipate that PTC Inc. will post 3.52 earnings per share for the current fiscal year.

Insider Buying and Selling at PTC

In other news, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the sale, the executive vice president now owns 13,902 shares in the company, valued at $2,363,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Staats Aaron C. Von sold 1,000 shares of PTC stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the sale, the executive vice president now directly owns 13,902 shares in the company, valued at $2,363,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $179.33, for a total value of $717,320.00. Following the completion of the transaction, the director now directly owns 48,137 shares in the company, valued at $8,632,408.21. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,000 shares of company stock worth $2,431,330. 1.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PTC shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $202.00 target price on shares of PTC in a research report on Thursday, August 1st. Piper Sandler lifted their target price on PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Mizuho reiterated a “neutral” rating and issued a $190.00 target price (down from $200.00) on shares of PTC in a report on Tuesday, June 4th. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Rosenblatt Securities upped their price objective on shares of PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.18.

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.