Bank of Nova Scotia Cuts Holdings in PTC Inc. $PTC

Bank of Nova Scotia decreased its holdings in PTC Inc. (NASDAQ:PTC) by 27.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 57,756 shares of the technology company’s stock after selling 21,669 shares during the quarter. Bank of Nova Scotia’s holdings in PTC were worth $9,954,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Zions Bancorporation National Association UT purchased a new position in shares of PTC in the 1st quarter valued at $39,000. SVB Wealth LLC purchased a new stake in shares of PTC during the 1st quarter worth $41,000. Assetmark Inc. boosted its position in PTC by 339.3% during the second quarter. Assetmark Inc. now owns 268 shares of the technology company’s stock valued at $46,000 after purchasing an additional 207 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in PTC by 34.4% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company’s stock valued at $46,000 after purchasing an additional 76 shares during the last quarter. Finally, Covestor Ltd raised its holdings in PTC by 247.2% in the first quarter. Covestor Ltd now owns 427 shares of the technology company’s stock worth $66,000 after purchasing an additional 304 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 6,328 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the completion of the sale, the executive vice president directly owned 22,461 shares in the company, valued at approximately $3,925,958.19. This trade represents a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kristian Talvitie sold 2,338 shares of PTC stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $174.71, for a total transaction of $408,471.98. Following the sale, 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 SEC filing for this sale provides additional information. Insiders sold a total of 10,986 shares of company stock worth $1,916,692 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on PTC shares. BMO Capital Markets lowered their price target 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. Rosenblatt Securities decreased their target price on shares of PTC from $227.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Zacks Research downgraded shares of PTC from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Wall Street Zen lowered shares of PTC from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Finally, Piper Sandler decreased their price objective on PTC from $200.00 to $175.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, PTC presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.92.

PTC Price Performance

Shares of PTC stock opened at $175.66 on Thursday. The firm has a market cap of $20.98 billion, a PE ratio of 28.61, a P/E/G ratio of 1.97 and a beta of 1.03. The business has a 50-day moving average price of $187.97 and a 200 day moving average price of $191.83. The company has a quick ratio of 1.43, a current ratio of 1.12 and a debt-to-equity ratio of 0.31. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $219.69.

PTC (NASDAQ:PTC) last released its earnings results on Friday, November 21st. The technology company reported $2.10 EPS for the quarter. PTC had a net margin of 27.05% and a return on equity of 23.03%. The business had revenue of $1.76 billion during the quarter. Sell-side analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

About PTC

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.