PTC Inc. (NASDAQ:PTC) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc lowered its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 7.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 963,005 shares of the technology company's stock after selling 72,593 shares during the period. Impax Asset Management Group plc owned approximately 0.80% of PTC worth $147,898,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Wahed Invest LLC boosted its holdings in shares of PTC by 2.1% in the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock valued at $539,000 after buying an additional 61 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of PTC by 1.9% in the 1st quarter. D.A. Davidson & CO. now owns 3,755 shares of the technology company's stock valued at $582,000 after buying an additional 70 shares in the last quarter. Portside Wealth Group LLC boosted its holdings in shares of PTC by 2.4% in the 1st quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company's stock valued at $514,000 after buying an additional 78 shares in the last quarter. Strategic Advisors LLC boosted its holdings in shares of PTC by 1.1% in the 1st quarter. Strategic Advisors LLC now owns 7,729 shares of the technology company's stock valued at $1,198,000 after buying an additional 83 shares in the last quarter. Finally, Steph & Co. boosted its holdings in shares of PTC by 6.7% in the 1st quarter. Steph & Co. now owns 1,347 shares of the technology company's stock valued at $209,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PTC shares. Stifel Nicolaus lowered their target price on shares of PTC from $230.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. KeyCorp lowered their target price on shares of PTC from $211.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Oppenheimer restated a "cautious" rating on shares of PTC in a report on Thursday, June 12th. Robert W. Baird upped their target price on shares of PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Piper Sandler reduced their price target on shares of PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, PTC currently has a consensus rating of "Hold" and a consensus target price of $188.69.

PTC Stock Up 1.0%

PTC stock opened at $175.13 on Friday. The company has a fifty day moving average price of $167.75 and a 200 day moving average price of $167.99. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $203.09. The company has a market cap of $21.01 billion, a price-to-earnings ratio of 48.11, a price-to-earnings-growth ratio of 2.41 and a beta of 1.17. 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 announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.42. The company had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. PTC had a net margin of 18.77% and a return on equity of 15.35%. PTC's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. Sell-side analysts expect that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the transaction, the executive vice president owned 17,731 shares in the company, valued at approximately $2,836,960. This represents a 10.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company's stock.

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.

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