Van Berkom & Associates Inc. Sells 2,405 Shares of PTC Inc. (NASDAQ:PTC)

Van Berkom & Associates Inc. trimmed its position in PTC Inc. (NASDAQ:PTC) by 22.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,364 shares of the technology company’s stock after selling 2,405 shares during the period. Van Berkom & Associates Inc.’s holdings in PTC were worth $1,296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of PTC by 6.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 233,193 shares of the technology company’s stock valued at $36,115,000 after acquiring an additional 14,971 shares in the last quarter. Phoenix Financial Ltd. purchased a new position in PTC in the first quarter worth $214,000. Pacer Advisors Inc. boosted its position in PTC by 46.7% in the first quarter. Pacer Advisors Inc. now owns 48,701 shares of the technology company’s stock worth $7,546,000 after purchasing an additional 15,498 shares during the last quarter. Machina Capital S.A.S. grew its stake in PTC by 129.7% in the 1st quarter. Machina Capital S.A.S. now owns 7,341 shares of the technology company’s stock valued at $1,137,000 after purchasing an additional 4,145 shares during the period. Finally, Oak Thistle LLC increased its position in shares of PTC by 3.7% during the 1st quarter. Oak Thistle LLC now owns 6,275 shares of the technology company’s stock valued at $972,000 after purchasing an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the sale, the executive vice president directly owned 17,731 shares in the company, valued at $2,836,960. The trade was a 10.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.32% of the company’s stock.

PTC Stock Up 1.2%

Shares of PTC stock opened at $204.51 on Friday. The company has a 50-day simple moving average of $177.60 and a two-hundred day simple moving average of $169.07. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $213.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $24.53 billion, a PE ratio of 56.18, a price-to-earnings-growth ratio of 2.75 and a beta of 1.17.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.42. PTC had a return on equity of 15.35% and a net margin of 18.77%. The business had revenue of $636.37 million for the quarter, compared to analysts’ expectations of $608.64 million. During the same period in the prior year, the firm posted $1.46 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts anticipate that PTC Inc. will post 4.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. KeyCorp reissued an “overweight” rating and issued a $192.00 price target (up from $185.00) on shares of PTC in a report on Monday, July 7th. Robert W. Baird lifted their price objective on shares of PTC from $185.00 to $191.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Mizuho reduced their target price on shares of PTC from $190.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Piper Sandler decreased their price target on shares of PTC from $202.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 price objective on shares of PTC in a research note on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, PTC currently has an average rating of “Moderate Buy” and a consensus price target of $194.08.

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.