Vanguard Personalized Indexing Management LLC Cuts Stake in PTC Inc. (NASDAQ:PTC)

Vanguard Personalized Indexing Management LLC cut its holdings in shares of PTC Inc. (NASDAQ:PTC) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,794 shares of the technology company’s stock after selling 128 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in PTC were worth $1,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. First Horizon Advisors Inc. raised its position in shares of PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after purchasing an additional 62 shares during the last quarter. Blue Trust Inc. increased its stake in PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of PTC in the second quarter worth $29,000. International Assets Investment Management LLC acquired a new stake in shares of PTC during the second quarter worth $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of PTC during the second quarter valued at $31,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Stock Down 1.8 %

PTC stock opened at $175.90 on Monday. The firm’s fifty day moving average is $174.25 and its 200 day moving average is $178.54. The firm has a market cap of $21.06 billion, a PE ratio of 73.60, a P/E/G ratio of 3.24 and a beta of 1.18. PTC Inc. has a one year low of $134.61 and a one year high of $194.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, July 31st. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $518.64 million for the quarter, compared to analysts’ expectations of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. On average, research analysts forecast that PTC Inc. will post 3.52 EPS for the current year.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Robert Schechter sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total transaction of $858,650.00. Following the transaction, the director now owns 59,616 shares in the company, valued at approximately $10,237,855.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Robert Schechter sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total transaction of $858,650.00. Following the completion of the transaction, the director now owns 59,616 shares in the company, valued at approximately $10,237,855.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the sale, the director now owns 44,137 shares in the company, valued at $7,562,433.58. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock worth $2,431,330 over the last three months. 1.17% of the stock is currently owned by corporate insiders.

PTC 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.