PTC Inc. (NASDAQ:PTC) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning decreased its stake in PTC Inc. (NASDAQ:PTC) by 34.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,390 shares of the technology company’s stock after selling 1,240 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in PTC were worth $452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mariner LLC raised its position in PTC by 10.9% during the third quarter. Mariner LLC now owns 8,877 shares of the technology company’s stock worth $1,258,000 after acquiring an additional 873 shares during the last quarter. Bank of Nova Scotia raised its position in PTC by 17.0% during the third quarter. Bank of Nova Scotia now owns 13,769 shares of the technology company’s stock worth $1,951,000 after acquiring an additional 1,998 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in PTC by 11.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 118,100 shares of the technology company’s stock worth $16,732,000 after acquiring an additional 12,000 shares during the last quarter. Kinetic Partners Management LP raised its position in PTC by 8.0% during the third quarter. Kinetic Partners Management LP now owns 548,035 shares of the technology company’s stock worth $77,646,000 after acquiring an additional 40,400 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its position in PTC by 14.8% during the third quarter. Royal London Asset Management Ltd. now owns 41,434 shares of the technology company’s stock worth $5,872,000 after acquiring an additional 5,333 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Trading Up 0.6 %

Shares of PTC stock opened at $183.97 on Thursday. The stock has a market cap of $22.02 billion, a price-to-earnings ratio of 76.98, a price-to-earnings-growth ratio of 3.44 and a beta of 1.18. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.51. PTC Inc. has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The firm’s 50 day moving average price is $178.20 and its two-hundred day moving average price is $179.14.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, May 1st. The technology company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.23. PTC had a net margin of 12.84% and a return on equity of 13.76%. The business had revenue of $603.07 million for the quarter, compared to analysts’ expectations of $575.53 million. On average, analysts anticipate that PTC Inc. will post 3.48 EPS for the current year.

Insider Transactions at PTC

In other news, COO Michael Ditullio sold 6,592 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the transaction, the chief operating officer now directly owns 53,148 shares of the company’s stock, valued at $9,734,056.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Michael Ditullio sold 6,592 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $183.15, for a total value of $1,207,324.80. Following the sale, the chief operating officer now directly owns 53,148 shares of the company’s stock, valued at $9,734,056.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $178.20, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 11,846 shares of company stock valued at $2,137,631. Corporate insiders own 1.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PTC shares. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Mizuho reiterated a “neutral” rating and set a $190.00 price target (down from $200.00) on shares of PTC in a report on Tuesday, June 4th. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price target on shares of PTC in a report on Friday, April 12th. Robert W. Baird lifted their price target on shares of PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, Citigroup lowered their price target on shares of PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.73.

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.