PTC Inc. (NASDAQ:PTC) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia trimmed its position in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 11.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,425 shares of the technology company's stock after selling 10,337 shares during the period. Bank of Nova Scotia owned approximately 0.07% of PTC worth $12,307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PTC. Bartlett & CO. Wealth Management LLC purchased a new stake in PTC during the first quarter worth about $26,000. Motco purchased a new stake in PTC during the first quarter worth about $29,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of PTC in the fourth quarter valued at $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of PTC in the first quarter valued at $33,000. Finally, UMB Bank n.a. raised its stake in shares of PTC by 153.4% in the first quarter. UMB Bank n.a. now owns 294 shares of the technology company's stock valued at $46,000 after acquiring an additional 178 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following the transaction, the executive vice president owned 17,731 shares of the company's stock, 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 this hyperlink. Insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 price objective on shares of PTC in a research note on Tuesday, July 29th. Royal Bank Of Canada increased their price objective on PTC from $224.00 to $235.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. BMO Capital Markets increased their price objective on PTC from $187.00 to $231.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. UBS Group reiterated a "buy" rating on shares of PTC in a research note on Tuesday, July 29th. Finally, Mizuho reduced their price objective on PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $202.14.

PTC Stock Performance

Shares of PTC stock opened at $216.41 on Tuesday. The stock's 50-day moving average is $182.23 and its two-hundred day moving average is $169.86. The firm has a market cap of $25.96 billion, a price-to-earnings ratio of 51.04, a PEG ratio of 2.58 and a beta of 1.17. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $219.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.42. The company had revenue of $643.94 million for the quarter, compared to analyst estimates of $582.12 million. PTC had a return on equity of 17.09% and a net margin of 20.74%. The business's quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 earnings per share. Analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

PTC 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.