Livforsakringsbolaget Skandia Omsesidigt Cuts Holdings in PTC Inc. (NASDAQ:PTC)

Livforsakringsbolaget Skandia Omsesidigt lowered its stake in shares of PTC Inc. (NASDAQ:PTC) by 9.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,900 shares of the technology company’s stock after selling 2,700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in PTC were worth $3,685,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. American Century Companies Inc. lifted its position in PTC by 205.5% in the 1st quarter. American Century Companies Inc. now owns 8,606 shares of the technology company’s stock worth $927,000 after buying an additional 5,789 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of PTC by 84.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,928 shares of the technology company’s stock worth $316,000 after acquiring an additional 1,340 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of PTC in the 1st quarter worth approximately $110,000. MetLife Investment Management LLC boosted its stake in shares of PTC by 42.9% in the 1st quarter. MetLife Investment Management LLC now owns 33,353 shares of the technology company’s stock valued at $3,593,000 after purchasing an additional 10,013 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in shares of PTC by 128.5% during the 1st quarter. Panagora Asset Management Inc. now owns 10,904 shares of the technology company’s stock valued at $1,175,000 after purchasing an additional 6,133 shares during the last quarter. 92.23% of the stock is owned by institutional investors.

PTC Trading Up 0.6 %

Shares of PTC traded up $0.84 during trading hours on Thursday, reaching $139.52. 79,149 shares of the company traded hands, compared to its average volume of 743,143. PTC Inc. has a 12 month low of $101.82 and a 12 month high of $152.09. The company has a market capitalization of $16.58 billion, a price-to-earnings ratio of 53.89, a price-to-earnings-growth ratio of 3.85 and a beta of 1.18. The company’s fifty day moving average price is $143.68 and its two-hundred day moving average price is $134.73. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.67.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.04). PTC had a net margin of 14.90% and a return on equity of 15.41%. The firm had revenue of $542.34 million for the quarter, compared to the consensus estimate of $530.35 million. Equities research analysts predict that PTC Inc. will post 2.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PTC. KeyCorp upped their price target on shares of PTC from $160.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Robert W. Baird raised their price target on PTC from $168.00 to $173.00 in a research report on Monday, July 17th. Royal Bank of Canada boosted their price objective on PTC from $158.00 to $165.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. Piper Sandler restated a “neutral” rating and issued a $150.00 target price on shares of PTC in a report on Thursday, July 27th. Finally, BMO Capital Markets started coverage on shares of PTC in a report on Wednesday, May 24th. They set an “outperform” rating and a $166.00 price target for the company. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $160.92.

Insider Buying and Selling

In other PTC news, COO Michael Ditullio sold 3,000 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $143.47, for a total transaction of $430,410.00. Following the completion of the transaction, the chief operating officer now owns 60,674 shares of the company’s stock, valued at $8,704,898.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Paul A. Lacy sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $150.48, for a total value of $376,200.00. Following the sale, the director now owns 19,136 shares in the company, valued at approximately $2,879,585.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Ditullio sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $143.47, for a total value of $430,410.00. Following the transaction, the chief operating officer now directly owns 60,674 shares of the company’s stock, valued at approximately $8,704,898.78. The disclosure for this sale can be found here. Insiders have sold a total of 8,000 shares of company stock valued at $1,169,160 over the last ninety days. Company insiders own 8.26% of the company’s stock.

PTC Company Profile

PTC Inc operates as software 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 end-to-end capabilities to enable digital transformation; and Vuforia, which enables the creation of AR.