Hsbc Holdings PLC Buys 17,261 Shares of PTC Inc. (NASDAQ:PTC)

Hsbc Holdings PLC boosted its stake in PTC Inc. (NASDAQ:PTC) by 7.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,316 shares of the technology company’s stock after purchasing an additional 17,261 shares during the period. Hsbc Holdings PLC owned about 0.20% of PTC worth $42,856,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. grew its holdings in shares of PTC by 2.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,615 shares of the technology company’s stock worth $458,000 after purchasing an additional 55 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in PTC by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock worth $1,865,000 after buying an additional 61 shares during the period. Diversified Trust Co grew its holdings in PTC by 2.9% during the 2nd quarter. Diversified Trust Co now owns 2,193 shares of the technology company’s stock worth $398,000 after acquiring an additional 62 shares during the last quarter. First Horizon Advisors Inc. increased its position in PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after acquiring an additional 62 shares during the period. Finally, Fidelis Capital Partners LLC raised its stake in shares of PTC by 5.4% during the first quarter. Fidelis Capital Partners LLC now owns 1,454 shares of the technology company’s stock valued at $275,000 after acquiring an additional 74 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Activity

In related news, Director Robert Schechter sold 5,000 shares of the stock in a transaction 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 transaction, the director now directly owns 59,616 shares in the company, valued at approximately $10,237,855.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other PTC news, Director Robert Schechter sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $179.33, for a total transaction of $717,320.00. Following the transaction, 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. Insiders sold a total of 14,000 shares of company stock worth $2,431,330 over the last quarter. 1.17% of the stock is currently owned by corporate insiders.

PTC Stock Down 1.8 %

Shares of NASDAQ PTC opened at $175.90 on Friday. PTC Inc. has a 12-month low of $134.61 and a 12-month high of $194.24. 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 market cap of $21.13 billion, a PE ratio of 73.60, a P/E/G ratio of 3.24 and a beta of 1.18. The company’s fifty day simple moving average is $174.25 and its 200 day simple moving average is $178.58.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. PTC had a net margin of 13.32% and a return on equity of 13.36%. The company had revenue of $518.64 million for the quarter, compared to analysts’ expectations of $533.04 million. As a group, sell-side analysts forecast that PTC Inc. will post 3.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

PTC has been the topic of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $202.00 price objective on shares of PTC in a research note on Thursday, August 1st. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Mizuho reaffirmed a “neutral” rating and issued a $190.00 price objective (down from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Rosenblatt Securities increased their target price on shares of PTC from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Piper Sandler boosted their price target on shares of PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.18.

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.