Hsbc Holdings PLC Sells 122,921 Shares of PTC Inc. (NASDAQ:PTC)

Hsbc Holdings PLC reduced its position in shares of PTC Inc. (NASDAQ:PTCFree Report) by 36.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 209,831 shares of the technology company’s stock after selling 122,921 shares during the quarter. Hsbc Holdings PLC owned approximately 0.18% of PTC worth $36,733,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PTC. Lincoln National Corp bought a new position in PTC in the 3rd quarter worth $207,000. Victory Capital Management Inc. boosted its position in shares of PTC by 14.6% during the third quarter. Victory Capital Management Inc. now owns 73,452 shares of the technology company’s stock valued at $10,407,000 after purchasing an additional 9,381 shares in the last quarter. Retirement Systems of Alabama grew its stake in PTC by 11.0% in the third quarter. Retirement Systems of Alabama now owns 26,869 shares of the technology company’s stock worth $3,807,000 after purchasing an additional 2,659 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of PTC by 9.8% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 149,268 shares of the technology company’s stock worth $21,148,000 after buying an additional 13,314 shares during the period. Finally, abrdn plc increased its stake in shares of PTC by 7.0% in the 3rd quarter. abrdn plc now owns 86,542 shares of the technology company’s stock worth $12,261,000 after acquiring an additional 5,672 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price objective on shares of PTC in a research note on Friday, April 12th. KeyCorp increased their price objective on shares of PTC from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Robert W. Baird lifted their target price on shares of PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $202.00 price target on shares of PTC in a report on Thursday, February 1st. Finally, StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, PTC presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.64.

Read Our Latest Stock Report on PTC

Insider Activity

In other PTC news, COO Michael Ditullio sold 6,592 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $183.15, for a total value of $1,207,324.80. Following the completion of the transaction, the chief operating officer now directly owns 53,148 shares in the company, valued at $9,734,056.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.17% of the company’s stock.

PTC Stock Down 1.9 %

Shares of NASDAQ PTC opened at $173.86 on Friday. The company has a market cap of $20.81 billion, a P/E ratio of 72.75, a PEG ratio of 3.33 and a beta of 1.19. The firm has a 50-day simple moving average of $181.70 and a two-hundred day simple moving average of $176.18. PTC Inc. has a 1 year low of $131.45 and a 1 year high of $194.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.76 and a quick ratio of 0.76.

PTC (NASDAQ:PTCGet Free Report) last released its earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.23. The business had revenue of $603.07 million during the quarter, compared to the consensus estimate of $575.53 million. PTC had a return on equity of 13.76% and a net margin of 12.84%. Research analysts anticipate that PTC Inc. will post 3.48 earnings per share for the current year.

PTC Profile

(Free Report)

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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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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