Federated Hermes Inc. Grows Stock Holdings in PTC Inc. (NASDAQ:PTC)

Key Points

• Federated Hermes Inc. increased its stake in PTC Inc. by 1.8% to own 454,202 shares, valued at approximately $70.4 million, as of its latest SEC filing.
• PTC reported $1.79 earnings per share for the last quarter, exceeding expectations of $1.37, along with a revenue of $636.37 million which also surpassed forecasts.
• Wall Street analysts have issued a consensus rating of "Moderate Buy" for PTC, with a target price averaging around $188.79, despite some recent downgrades by specific firms.

Federated Hermes Inc. raised its position in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 454,202 shares of the technology company's stock after acquiring an additional 7,852 shares during the period. Federated Hermes Inc. owned approximately 0.38% of PTC worth $70,379,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PTC. Commonwealth Equity Services LLC raised its position in PTC by 16.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,632 shares of the technology company's stock valued at $668,000 after purchasing an additional 523 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in PTC during the fourth quarter valued at $207,000. LPL Financial LLC raised its holdings in shares of PTC by 14.6% during the fourth quarter. LPL Financial LLC now owns 17,914 shares of the technology company's stock valued at $3,294,000 after purchasing an additional 2,285 shares during the period. Blair William & Co. IL raised its holdings in shares of PTC by 6.2% during the fourth quarter. Blair William & Co. IL now owns 2,727 shares of the technology company's stock valued at $501,000 after purchasing an additional 159 shares during the period. Finally, Norges Bank bought a new position in PTC in the 4th quarter valued at about $128,852,000. Institutional investors own 95.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PTC shares. UBS Group reissued a "buy" rating on shares of PTC in a research report on Tuesday. Wells Fargo & Company reiterated an "overweight" rating on shares of PTC in a research note on Tuesday. Royal Bank Of Canada boosted their price target on shares of PTC from $224.00 to $235.00 and gave the company an "outperform" rating in a research report on Thursday. 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 report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $160.00 price objective (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, PTC presently has an average rating of "Moderate Buy" and an average target price of $202.14.

Insider Transactions at PTC

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's 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 sale, the executive vice president owned 17,731 shares in the company, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company's stock.

PTC Trading Down 1.3%

PTC stock traded down $2.70 during trading on Friday, reaching $212.11. The company had a trading volume of 1,598,374 shares, compared to its average volume of 1,090,034. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $219.69. The company has a market cap of $25.44 billion, a P/E ratio of 50.03, a PEG ratio of 2.76 and a beta of 1.17. The business has a 50 day moving average of $180.41 and a 200 day moving average of $169.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.42. PTC had a net margin of 20.74% and a return on equity of 17.40%. The firm had revenue of $643.94 million for the quarter, compared to analysts' expectations of $582.12 million. During the same quarter in the prior year, the company posted $0.98 earnings per share. The business's revenue for the quarter was up 24.2% on a year-over-year basis. As a group, sell-side analysts forecast that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

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.