Logan Capital Management Inc. Sells 634 Shares of PTC Inc. (NASDAQ:PTC)

Logan Capital Management Inc. trimmed its holdings in PTC Inc. (NASDAQ:PTC) by 7.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,822 shares of the technology company’s stock after selling 634 shares during the quarter. Logan Capital Management Inc.’s holdings in PTC were worth $1,003,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PTC. Belpointe Asset Management LLC bought a new position in shares of PTC during the 4th quarter valued at approximately $27,000. Clear Street Markets LLC boosted its position in shares of PTC by 93.5% during the 1st quarter. Clear Street Markets LLC now owns 207 shares of the technology company’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Desjardins Global Asset Management Inc. bought a new position in shares of PTC during the 1st quarter valued at approximately $43,000. Fred Alger Management LLC boosted its position in shares of PTC by 102.4% during the 4th quarter. Fred Alger Management LLC now owns 417 shares of the technology company’s stock valued at $50,000 after acquiring an additional 211 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in shares of PTC during the 1st quarter valued at approximately $50,000. 92.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Corinna Lathan sold 800 shares of PTC stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $141.10, for a total transaction of $112,880.00. Following the completion of the sale, the director now owns 8,503 shares of the company’s stock, valued at $1,199,773.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Michael Ditullio sold 3,000 shares of PTC stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $143.47, for a total transaction of $430,410.00. Following the completion of the sale, the chief operating officer now owns 60,674 shares of the company’s stock, valued at $8,704,898.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Corinna Lathan sold 800 shares of PTC stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $141.10, for a total value of $112,880.00. Following the sale, the director now directly owns 8,503 shares of the company’s stock, valued at approximately $1,199,773.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,800 shares of company stock valued at $1,282,040. 8.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. KeyCorp increased their target price on PTC from $160.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Piper Sandler restated a “neutral” rating and set a $150.00 price target on shares of PTC in a report on Thursday, July 27th. Rosenblatt Securities increased their price target on PTC from $148.00 to $159.00 in a report on Thursday, July 27th. Barclays increased their price target on PTC from $163.00 to $166.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Finally, Robert W. Baird increased their price target on PTC from $168.00 to $173.00 in a report on Monday, July 17th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $160.92.

PTC Price Performance

Shares of NASDAQ PTC opened at $143.64 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market cap of $17.07 billion, a PE ratio of 55.89, a P/E/G ratio of 3.85 and a beta of 1.18. The business has a 50-day simple moving average of $143.62 and a two-hundred day simple moving average of $134.51. PTC Inc. has a fifty-two week low of $101.82 and a fifty-two week high of $152.09.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.04). The business had revenue of $542.34 million during the quarter, compared to analyst estimates of $530.35 million. PTC had a return on equity of 15.41% and a net margin of 14.90%. As a group, equities analysts expect that PTC Inc. will post 2.94 EPS for the current fiscal year.

PTC Company Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers end-to-end capabilities to enable digital transformation; and Vuforia, which enables the creation of AR.