Select Equity Group L.P. Cuts Stock Holdings in PTC Inc. (NASDAQ:PTC)

Select Equity Group L.P. lowered its holdings in PTC Inc. (NASDAQ:PTC) by 10.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 655,113 shares of the technology company’s stock after selling 78,091 shares during the quarter. Select Equity Group L.P. owned approximately 0.55% of PTC worth $119,014,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PTC. Blue Trust Inc. boosted its position in PTC by 762.5% during the second 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. First Horizon Advisors Inc. grew 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 worth $26,000 after buying an additional 62 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of PTC during the 2nd quarter worth approximately $29,000. International Assets Investment Management LLC purchased a new stake in PTC during the second quarter valued at approximately $30,000. Finally, OFI Invest Asset Management acquired a new stake in PTC in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Activity at PTC

In related news, Director Janice Chaffin sold 4,000 shares of the business’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 approximately $8,632,408.21. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other PTC 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 $10,237,855.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 48,137 shares of the company’s stock, 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 corporate insiders.

Wall Street Analyst Weigh In

PTC has been the topic of a number of recent analyst reports. Mizuho reaffirmed 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 price target on shares of PTC in a research note on Thursday, August 1st. Piper Sandler boosted their price target on PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Rosenblatt Securities lifted their target price 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. Finally, StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.18.

PTC Stock Up 2.7 %

NASDAQ:PTC opened at $181.01 on Friday. The firm has a market capitalization of $21.67 billion, a P/E ratio of 75.74, a PEG ratio of 3.32 and a beta of 1.18. The company’s fifty day moving average price is $173.92 and its 200-day moving average price is $178.41. PTC Inc. has a 1-year low of $134.61 and a 1-year high of $194.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

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