Pacer Advisors Inc. Sells 13,344 Shares of PTC Inc. (NASDAQ:PTC)

Pacer Advisors Inc. cut its holdings in shares of PTC Inc. (NASDAQ:PTC) by 38.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,461 shares of the technology company’s stock after selling 13,344 shares during the period. Pacer Advisors Inc.’s holdings in PTC were worth $3,899,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PTC. PNC Financial Services Group Inc. grew its position in PTC by 2.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,612 shares of the technology company’s stock worth $807,000 after purchasing an additional 113 shares during the period. Wells Fargo & Company MN increased its position in PTC by 10.2% during the fourth quarter. Wells Fargo & Company MN now owns 96,290 shares of the technology company’s stock valued at $16,847,000 after acquiring an additional 8,936 shares during the last quarter. D.A. Davidson & CO. increased its position in PTC by 3.2% during the fourth quarter. D.A. Davidson & CO. now owns 3,840 shares of the technology company’s stock valued at $672,000 after acquiring an additional 118 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in PTC by 23.5% in the fourth quarter. Corient Private Wealth LLC now owns 4,144 shares of the technology company’s stock valued at $725,000 after acquiring an additional 789 shares during the period. Finally, US Bancorp DE boosted its position in PTC by 0.8% in the fourth quarter. US Bancorp DE now owns 9,931 shares of the technology company’s stock worth $1,738,000 after purchasing an additional 77 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PTC news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PTC news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $171.34, for a total transaction of $685,360.00. Following the completion of the transaction, the director now owns 44,137 shares in the company, valued at $7,562,433.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the sale, the executive vice president now owns 13,902 shares in the company, valued at $2,363,340. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,000 shares of company stock worth $2,431,330. Corporate insiders own 1.17% of the company’s stock.

Analysts Set New Price Targets

PTC has been the topic of several recent research reports. Mizuho reiterated a “neutral” rating and issued a $190.00 price objective (down previously from $200.00) on shares of PTC in a research note 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 report on Thursday, August 1st. Rosenblatt Securities boosted their price objective 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. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Piper Sandler boosted 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. 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $200.18.

PTC Trading Down 0.1 %

Shares of PTC opened at $177.79 on Wednesday. The firm has a market cap of $21.28 billion, a P/E ratio of 74.39, a price-to-earnings-growth ratio of 3.24 and a beta of 1.18. 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 Inc. has a 1 year low of $134.61 and a 1 year high of $194.24. The company has a 50 day simple moving average of $173.99 and a two-hundred day simple moving average of $178.43.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $533.04 million. On average, equities analysts expect 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.