Federated Hermes Inc. Has $67.43 Million Stock Holdings in PTC Inc. $PTC

Federated Hermes Inc. raised its stake in PTC Inc. (NASDAQ:PTC) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 332,137 shares of the technology company’s stock after buying an additional 5,505 shares during the quarter. Federated Hermes Inc.’s holdings in PTC were worth $67,430,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in PTC by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock valued at $2,541,838,000 after acquiring an additional 416,791 shares in the last quarter. State Street Corp raised its stake in shares of PTC by 4.0% in the 2nd quarter. State Street Corp now owns 5,372,296 shares of the technology company’s stock valued at $925,861,000 after purchasing an additional 205,029 shares during the period. Geode Capital Management LLC lifted its holdings in shares of PTC by 8.4% in the second quarter. Geode Capital Management LLC now owns 3,415,785 shares of the technology company’s stock valued at $586,438,000 after purchasing an additional 265,558 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of PTC by 31.4% during the second quarter. Lazard Asset Management LLC now owns 1,547,622 shares of the technology company’s stock worth $266,715,000 after buying an additional 370,097 shares during the period. Finally, Norges Bank bought a new position in shares of PTC during the second quarter worth about $155,673,000. Institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

PTC has been the topic of several research reports. BMO Capital Markets cut their target price on PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Piper Sandler cut their price objective on shares of PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Oppenheimer decreased their target price on shares of PTC from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday. Robert W. Baird set a $255.00 price target on shares of PTC in a research report on Wednesday, October 22nd. Finally, Wall Street Zen raised PTC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $201.77.

PTC Stock Down 1.7%

PTC stock opened at $161.91 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43. The company’s 50-day moving average is $172.34 and its 200-day moving average is $191.56. The firm has a market capitalization of $19.25 billion, a PE ratio of 26.37, a P/E/G ratio of 2.74 and a beta of 1.01. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $219.69.

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

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 6,328 shares of the 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 sale, the executive vice president owned 22,461 shares in the company, valued at approximately $3,925,958.19. This represents a 21.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kristian Talvitie sold 50,291 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total value of $8,707,383.74. Following the sale, the executive vice president directly owned 12,386 shares of the company’s stock, valued at $2,144,512.04. This represents a 80.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 61,277 shares of company stock worth $10,624,076 over the last three months. 0.29% of the stock is owned by insiders.

PTC Company Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.