Federated Hermes Inc. Reduces Holdings in PTC Inc. $PTC

Federated Hermes Inc. lowered its position in PTC Inc. (NASDAQ:PTC) by 28.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 326,632 shares of the technology company’s stock after selling 127,570 shares during the period. Federated Hermes Inc. owned 0.27% of PTC worth $56,292,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. O ROURKE & COMPANY Inc acquired a new stake in PTC in the 2nd quarter valued at about $258,000. Nisa Investment Advisors LLC grew its position in shares of PTC by 35.7% in the second quarter. Nisa Investment Advisors LLC now owns 28,678 shares of the technology company’s stock valued at $4,942,000 after purchasing an additional 7,546 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of PTC by 18.5% in the second quarter. ARK Investment Management LLC now owns 19,024 shares of the technology company’s stock valued at $3,279,000 after purchasing an additional 2,965 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in PTC by 33.3% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 33,244 shares of the technology company’s stock worth $5,729,000 after buying an additional 8,300 shares in the last quarter. Finally, Aviva PLC boosted its stake in PTC by 3.3% during the second quarter. Aviva PLC now owns 362,647 shares of the technology company’s stock worth $62,499,000 after buying an additional 11,616 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Trading Up 0.5%

Shares of PTC stock opened at $174.41 on Tuesday. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $219.69. The firm has a market cap of $20.83 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. The company has a 50-day moving average of $189.10 and a two-hundred day moving average of $191.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share (EPS) for the quarter. PTC had a net margin of 27.05% and a return on equity of 23.02%. The business had revenue of $1.76 billion for the quarter. On average, analysts predict that PTC Inc. will post 4.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PTC shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of PTC in a research note on Monday, December 1st. Wall Street Zen lowered shares of PTC from a “strong-buy” rating to a “buy” rating in a report on Saturday. Piper Sandler reduced their target price on shares of PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. BMO Capital Markets decreased their target price on shares of PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Finally, Zacks Research downgraded shares of PTC from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, PTC currently has a consensus rating of “Moderate Buy” and an average price target of $205.92.

Insider Buying and Selling

In other news, EVP Staats Aaron C. Von sold 6,328 shares of PTC stock in a transaction on Monday, December 8th. The stock was sold at an average price of $174.79, for a total value of $1,106,071.12. Following the completion of the sale, the executive vice president directly owned 22,461 shares of the company’s stock, valued at approximately $3,925,958.19. The trade was a 21.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kristian Talvitie sold 2,338 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $174.71, for a total value of $408,471.98. Following the transaction, the executive vice president directly owned 62,677 shares in the company, valued at approximately $10,950,298.67. The trade was a 3.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 10,986 shares of company stock worth $1,916,692. 0.32% of the stock is owned by corporate 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.