Federated Hermes Inc. Sells 17,134 Shares of PTC Inc. (NASDAQ:PTC)

Federated Hermes Inc. decreased its stake in shares of PTC Inc. (NASDAQ:PTC) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 406,196 shares of the technology company’s stock after selling 17,134 shares during the quarter. Federated Hermes Inc. owned 0.34% of PTC worth $71,068,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in PTC by 6.6% in the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock valued at $1,965,137,000 after acquiring an additional 859,227 shares during the period. Norges Bank acquired a new position in PTC in the fourth quarter valued at about $48,590,000. Select Equity Group L.P. acquired a new position in PTC in the first quarter valued at about $43,148,000. Barclays PLC boosted its position in PTC by 67.0% in the third quarter. Barclays PLC now owns 691,521 shares of the technology company’s stock valued at $97,975,000 after buying an additional 277,358 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in PTC in the third quarter valued at about $39,054,000. Institutional investors own 95.14% of the company’s stock.

Insider Transactions at PTC

In related news, insider Catherine Kniker sold 1,330 shares of PTC stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the sale, the insider now owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other PTC news, CEO James E. Heppelmann sold 35,000 shares of PTC stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the sale, the chief executive officer now owns 968,357 shares in the company, valued at approximately $171,631,594.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Catherine Kniker sold 1,330 shares of PTC stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the sale, the insider now owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. Insiders sold 36,415 shares of company stock valued at $6,457,478 over the last quarter. Corporate insiders own 1.17% of the company’s stock.

PTC Trading Down 1.0 %

Shares of NASDAQ PTC opened at $175.70 on Friday. The company’s 50 day simple moving average is $183.62 and its 200 day simple moving average is $168.40. PTC Inc. has a fifty-two week low of $120.62 and a fifty-two week high of $194.24. The firm has a market capitalization of $21.00 billion, a P/E ratio of 89.19, a P/E/G ratio of 3.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.19 and a quick ratio of 1.19.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. PTC had a net margin of 10.86% and a return on equity of 12.87%. The firm had revenue of $550.21 million during the quarter, compared to the consensus estimate of $538.59 million. On average, analysts predict that PTC Inc. will post 3.47 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of PTC from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $130.00 to $200.00 in a research report on Thursday, January 4th. Mizuho boosted their price target on shares of PTC from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Oppenheimer upped their target price on shares of PTC from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $202.00 target price on shares of PTC in a research report on Thursday, February 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, PTC presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.73.

PTC Company 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.