Northwestern Mutual Wealth Management Co. Trims Holdings in PTC Inc. (NASDAQ:PTC)

Northwestern Mutual Wealth Management Co. lowered its holdings in PTC Inc. (NASDAQ:PTC) by 68.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,394 shares of the technology company’s stock after selling 5,249 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in PTC were worth $435,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of PTC by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock worth $2,596,209,000 after purchasing an additional 205,673 shares during the period. Wellington Management Group LLP raised its position in shares of PTC by 1,409.3% in the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock worth $294,006,000 after acquiring an additional 1,569,081 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of PTC by 4.4% in the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock valued at $206,091,000 after purchasing an additional 48,553 shares during the period. Twin Focus Capital Partners LLC bought a new stake in shares of PTC during the fourth quarter valued at approximately $177,081,000. Finally, Liontrust Investment Partners LLP grew its stake in PTC by 1.0% in the second quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company’s stock worth $182,383,000 after purchasing an additional 10,338 shares during the period. Institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PTC. Rosenblatt Securities upped their target price on shares of PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Piper Sandler raised their price objective on PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $202.00 target price on shares of PTC in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.18.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 1,000 shares of the company’s stock in a transaction dated 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 owns 13,902 shares of the company’s stock, valued at $2,363,340. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Staats Aaron C. Von sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Janice Chaffin sold 4,000 shares of PTC 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 transaction, the director now owns 48,137 shares in the company, valued at $8,632,408.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,000 shares of company stock valued at $2,431,330. Insiders own 1.17% of the company’s stock.

PTC Trading Up 0.4 %

Shares of NASDAQ:PTC opened at $178.00 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $21.31 billion, a P/E ratio of 74.48, a PEG ratio of 2.58 and a beta of 1.17. The stock’s fifty day moving average price is $174.45 and its 200-day moving average price is $177.95. PTC Inc. has a 1 year low of $134.61 and a 1 year high of $194.24.

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

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.