PTC Inc. (NASDAQ:PTC) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. cut its position in shares of PTC Inc. (NASDAQ:PTC) by 6.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,715 shares of the technology company’s stock after selling 200 shares during the period. Moors & Cabot Inc.’s holdings in PTC were worth $493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC raised its stake in PTC by 180.8% during the first quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock worth $5,115,000 after purchasing an additional 17,430 shares during the period. Portfolio Design Labs LLC acquired a new position in PTC in the 4th quarter worth $4,316,000. Norges Bank acquired a new position in shares of PTC in the fourth quarter worth about $114,043,000. Swedbank AB acquired a new position in shares of PTC in the 1st quarter valued at approximately $9,849,000. Finally, BNP Paribas Financial Markets boosted its stake in PTC by 133.1% during the 1st quarter. BNP Paribas Financial Markets now owns 122,819 shares of the technology company’s stock valued at $23,205,000 after acquiring an additional 70,131 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on PTC. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. 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 report on Thursday, August 1st. Piper Sandler lifted their price target on PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and set a $202.00 price objective on shares of PTC in a research note on Thursday, August 1st. Finally, Mizuho restated a “neutral” rating and issued a $190.00 target price (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.18.

PTC Price Performance

PTC stock opened at $179.13 on Friday. The firm has a 50-day moving average of $174.39 and a two-hundred day moving average of $178.65. PTC Inc. has a one year low of $134.61 and a one year high of $194.24. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $21.52 billion, a PE ratio of 74.95, a P/E/G ratio of 3.19 and a beta of 1.18.

PTC (NASDAQ:PTC) last announced its quarterly earnings data 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. PTC had a return on equity of 13.36% and a net margin of 13.32%. The firm had revenue of $518.64 million during the quarter, compared to the consensus estimate of $533.04 million. On average, analysts forecast that PTC Inc. will post 3.52 earnings per share for the current year.

Insider Transactions at PTC

In other news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the completion of the sale, the director now directly owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert Schechter sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total value of $858,650.00. Following the completion of the sale, the director now directly owns 59,616 shares in the company, valued at $10,237,855.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the transaction, the director now directly owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,000 shares of company stock valued at $2,431,330. 1.17% of the stock is owned by insiders.

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.