Silverberg Bernstein Capital Management LLC Sells 495 Shares of PTC Inc. (NASDAQ:PTC)

Silverberg Bernstein Capital Management LLC trimmed its position in PTC Inc. (NASDAQ:PTC) by 1.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 49,108 shares of the technology company’s stock after selling 495 shares during the quarter. PTC comprises about 8.1% of Silverberg Bernstein Capital Management LLC’s portfolio, making the stock its 4th biggest holding. Silverberg Bernstein Capital Management LLC’s holdings in PTC were worth $8,872,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PTC. First Horizon Advisors Inc. boosted its holdings in shares of PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after purchasing an additional 62 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of PTC during the 2nd quarter worth approximately $29,000. International Assets Investment Management LLC acquired a new position in PTC in the second quarter valued at approximately $30,000. Finally, OFI Invest Asset Management acquired a new position in PTC in the second quarter valued at approximately $31,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler upped their price objective on PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Rosenblatt Securities upped their price objective on PTC from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 price objective 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 company’s stock. Based on data from MarketBeat, the company 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 PTC stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 sale, the director now owns 48,137 shares in the company, valued at $8,632,408.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Schechter sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total value of $858,650.00. Following the sale, the director now owns 59,616 shares of the company’s stock, valued at approximately $10,237,855.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,000 shares of company stock worth $2,431,330. 1.17% of the stock is currently owned by company insiders.

PTC Trading Up 1.4 %

NASDAQ PTC traded up $2.53 during trading on Friday, hitting $179.60. The stock had a trading volume of 364,251 shares, compared to its average volume of 815,041. The company has a market capitalization of $21.50 billion, a PE ratio of 75.15, a PEG ratio of 3.40 and a beta of 1.17. 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 $174.45 and a 200 day moving average price of $178.18. PTC Inc. has a twelve month low of $134.61 and a twelve month high of $194.24.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $518.64 million during the quarter, compared to the consensus estimate 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 forecast that PTC Inc. will post 3.52 earnings per share for the current year.

About PTC

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.