Federated Hermes Inc. Has $67.43 Million Stake in PTC Inc. $PTC

Federated Hermes Inc. raised its stake in PTC Inc. (NASDAQ:PTC) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 332,137 shares of the technology company’s stock after acquiring an additional 5,505 shares during the period. Federated Hermes Inc. owned about 0.28% of PTC worth $67,430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PTC. Empowered Funds LLC increased its position in shares of PTC by 3.1% during the 1st quarter. Empowered Funds LLC now owns 2,498 shares of the technology company’s stock worth $387,000 after purchasing an additional 75 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of PTC by 34.4% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company’s stock worth $46,000 after buying an additional 76 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of PTC by 26.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,372 shares of the technology company’s stock worth $769,000 after buying an additional 918 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of PTC in the second quarter valued at approximately $255,000. Finally, Signaturefd LLC boosted its holdings in shares of PTC by 47.9% in the 2nd quarter. Signaturefd LLC now owns 1,693 shares of the technology company’s stock worth $292,000 after acquiring an additional 548 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PTC. Piper Sandler dropped their price target on PTC from $200.00 to $175.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Oppenheimer lowered their target price on PTC from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday. BMO Capital Markets cut their price target on PTC from $231.00 to $219.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Wall Street Zen raised shares of PTC from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Finally, Citigroup dropped their target price on shares of PTC from $185.00 to $181.00 and set a “neutral” rating for the company in a research note on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, PTC presently has an average rating of “Moderate Buy” and a consensus target price of $201.77.

PTC Stock Down 1.7%

NASDAQ:PTC opened at $161.91 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $219.69. The stock’s fifty day simple moving average is $172.34 and its 200-day simple moving average is $191.56. The firm has a market capitalization of $19.25 billion, a P/E ratio of 26.37, a P/E/G ratio of 2.74 and a beta of 1.01.

PTC (NASDAQ:PTC) last released its earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share for the quarter. PTC had a return on equity of 23.02% and a net margin of 27.05%.The firm had revenue of $1.76 billion for the quarter. Equities research analysts expect that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Activity at PTC

In related news, EVP Kristian Talvitie sold 50,291 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total transaction of $8,707,383.74. Following the completion of the transaction, the executive vice president owned 12,386 shares in the company, valued at approximately $2,144,512.04. The trade was a 80.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Staats Aaron C. Von sold 6,328 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the completion of the sale, the executive vice president owned 22,461 shares in the company, valued at approximately $3,925,958.19. This trade represents a 21.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,277 shares of company stock worth $10,624,076 in the last three months. 0.29% of the stock is owned by insiders.

PTC Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.