Federated Hermes Inc. Purchases 10,462 Shares of PTC Inc. (NASDAQ:PTC)

Federated Hermes Inc. grew its position in shares of PTC Inc. (NASDAQ:PTC) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 433,892 shares of the technology company’s stock after purchasing an additional 10,462 shares during the period. Federated Hermes Inc. owned about 0.36% of PTC worth $78,825,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PTC. Blue Trust Inc. raised its stake in shares of PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after acquiring an additional 122 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after acquiring an additional 62 shares during the period. Rothschild Investment LLC purchased a new stake in PTC during the 2nd quarter valued at about $29,000. International Assets Investment Management LLC bought a new position in PTC during the 2nd quarter worth approximately $30,000. Finally, OFI Invest Asset Management purchased a new position in PTC in the 2nd quarter worth approximately $31,000. Institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling at PTC

In related news, Director Robert Schechter sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total value of $858,650.00. Following the transaction, the director now owns 59,616 shares in the company, valued at approximately $10,237,855.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Robert Schechter sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total value of $858,650.00. Following the completion of the transaction, the director now directly owns 59,616 shares in the company, valued at approximately $10,237,855.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the transaction, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,000 shares of company stock worth $2,431,330. 1.17% of the stock is owned by insiders.

PTC Price Performance

PTC stock opened at $172.23 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $20.69 billion, a price-to-earnings ratio of 72.06, a PEG ratio of 3.14 and a beta of 1.18. The firm has a 50 day moving average price of $174.74 and a 200-day moving average price of $178.89. PTC Inc. has a 52-week low of $134.61 and a 52-week high of $194.24.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PTC. Mizuho restated a “neutral” rating and issued a $190.00 target price (down previously from $200.00) on shares of PTC in a report on Tuesday, June 4th. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Rosenblatt Securities boosted their price target on PTC from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler lifted their price target on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $202.00 price objective on shares of PTC in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $200.18.

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.