Moody National Bank Trust Division Decreases Holdings in PTC Inc. (NASDAQ:PTC)

Moody National Bank Trust Division trimmed its position in shares of PTC Inc. (NASDAQ:PTCGet Rating) by 44.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,434 shares of the technology company’s stock after selling 3,516 shares during the quarter. Moody National Bank Trust Division’s holdings in PTC were worth $472,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Comerica Bank raised its holdings in shares of PTC by 0.8% during the 1st quarter. Comerica Bank now owns 13,724 shares of the technology company’s stock valued at $1,406,000 after buying an additional 106 shares in the last quarter. Verition Fund Management LLC increased its stake in PTC by 3.2% in the 1st quarter. Verition Fund Management LLC now owns 3,505 shares of the technology company’s stock worth $378,000 after purchasing an additional 109 shares during the period. Kentucky Retirement Systems increased its stake in PTC by 1.8% in the 1st quarter. Kentucky Retirement Systems now owns 6,709 shares of the technology company’s stock worth $723,000 after purchasing an additional 120 shares during the period. National Bank of Canada FI increased its stake in PTC by 23.5% in the 1st quarter. National Bank of Canada FI now owns 631 shares of the technology company’s stock worth $68,000 after purchasing an additional 120 shares during the period. Finally, M&T Bank Corp increased its stake in PTC by 6.0% in the 1st quarter. M&T Bank Corp now owns 3,098 shares of the technology company’s stock worth $333,000 after purchasing an additional 174 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PTC news, Director Blake D. Moret sold 8,000 shares of the business’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $120.42, for a total value of $963,360.00. Following the sale, the director now directly owns 8,879,717 shares of the company’s stock, valued at $1,069,295,521.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Blake D. Moret sold 8,000 shares of the business’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $120.42, for a total value of $963,360.00. Following the completion of the transaction, the director now owns 8,879,717 shares in the company, valued at $1,069,295,521.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Blake D. Moret sold 100,000 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $118.84, for a total value of $11,884,000.00. Following the completion of the transaction, the director now owns 9,191,050 shares of the company’s stock, valued at approximately $1,092,264,382. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,100 shares of company stock valued at $32,925,130. 10.15% of the stock is currently owned by corporate insiders.

PTC Trading Down 0.1 %

NASDAQ PTC opened at $114.90 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.66. PTC Inc. has a twelve month low of $96.55 and a twelve month high of $136.00. The firm has a market capitalization of $13.50 billion, a PE ratio of 27.29, a P/E/G ratio of 2.77 and a beta of 1.17. The stock’s 50 day moving average is $116.05 and its 200 day moving average is $110.75.

PTC (NASDAQ:PTCGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.19. PTC had a return on equity of 18.13% and a net margin of 26.19%. The company had revenue of $462.47 million for the quarter, compared to analyst estimates of $473.65 million. During the same period in the previous year, the company posted $0.54 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. Research analysts forecast that PTC Inc. will post 3.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Citigroup lifted their price target on PTC from $116.00 to $124.00 in a research note on Thursday, July 28th. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Robert W. Baird decreased their price target on PTC from $160.00 to $153.00 in a research note on Thursday, July 21st. Mizuho lifted their price target on PTC from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Finally, Oppenheimer began coverage on PTC in a research report on Tuesday, July 26th. They issued a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $139.56.

PTC Company Profile

(Get Rating)

PTC Inc operates as software and services company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers a set of capabilities that enable enterprises to digitally transform every aspect of their business with innovative solutions that are simple to create, easy to implement, scalable to meet future needs, and designed to enable customers to accelerate time to value; and Vuforia, which enables the visualization of digital information in a physical context and the creation of AR.

Further Reading

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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