PTC Inc. (NASDAQ:PTC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in shares of PTC Inc. (NASDAQ:PTC) by 2.1% in the second quarter, HoldingsChannel reports. The firm owned 26,035 shares of the technology company’s stock after selling 572 shares during the period. Mutual of America Capital Management LLC’s holdings in PTC were worth $4,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in PTC by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 467,702 shares of the technology company’s stock valued at $84,968,000 after acquiring an additional 26,422 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of PTC by 66.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock valued at $140,577,000 after purchasing an additional 310,092 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in PTC by 66.4% during the second quarter. Brown Brothers Harriman & Co. now owns 233 shares of the technology company’s stock worth $42,000 after buying an additional 93 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in PTC by 16.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 3,726 shares of the technology company’s stock valued at $677,000 after buying an additional 536 shares during the period. Finally, Federated Hermes Inc. increased its holdings in PTC by 2.5% in the second quarter. Federated Hermes Inc. now owns 433,892 shares of the technology company’s stock valued at $78,825,000 after buying an additional 10,462 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In other PTC news, Director Robert Schechter sold 5,000 shares of the company’s 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 completion of the sale, 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 can be accessed through this link. In other news, Director Robert Schechter sold 5,000 shares of the stock in a transaction that occurred 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 owns 59,616 shares of the company’s stock, valued at approximately $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 the firm’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 sale, the director now owns 48,137 shares of the company’s stock, valued at approximately $8,632,408.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,000 shares of company stock worth $2,431,330. 1.17% of the stock is owned by corporate insiders.

PTC Price Performance

Shares of NASDAQ PTC opened at $175.90 on Friday. The firm has a 50-day simple moving average of $174.25 and a 200-day simple moving average of $178.57. 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 stock has a market capitalization of $21.06 billion, a price-to-earnings ratio of 73.60, a price-to-earnings-growth ratio of 3.24 and a beta of 1.18. PTC Inc. has a 52 week low of $134.61 and a 52 week high of $194.24.

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, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $533.04 million. On average, equities analysts predict that PTC Inc. will post 3.52 earnings per share for the current fiscal year.

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.