Intech Investment Management LLC Lowers Position in PTC Inc. (NASDAQ:PTC)

Intech Investment Management LLC trimmed its position in PTC Inc. (NASDAQ:PTC) by 22.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,113 shares of the technology company’s stock after selling 5,960 shares during the period. Intech Investment Management LLC’s holdings in PTC were worth $3,836,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew 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 buying an additional 1,569,081 shares during the period. Twin Focus Capital Partners LLC bought a new stake in PTC during the fourth quarter worth about $177,081,000. Norges Bank purchased a new stake in PTC in the fourth quarter worth about $114,043,000. Balyasny Asset Management L.P. increased 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 valued at $95,050,000 after purchasing an additional 344,853 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of PTC by 66.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock valued at $140,577,000 after purchasing an additional 310,092 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at PTC

In related news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $179.33, for a total value of $717,320.00. Following the transaction, the director now directly owns 48,137 shares of the company’s stock, valued at approximately $8,632,408.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $179.33, for a total transaction of $717,320.00. Following the completion of the transaction, the director now directly owns 48,137 shares in the company, valued at approximately $8,632,408.21. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Staats Aaron C. Von sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $2,363,340. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $2,431,330 in the last 90 days. 1.17% of the stock is currently owned by insiders.

PTC Stock Down 1.8 %

PTC opened at $175.90 on Friday. 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. 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 firm has a 50 day moving average price of $174.25 and a 200-day moving average price of $178.57. PTC Inc. has a twelve month low of $134.61 and a twelve month high of $194.24.

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

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.