Contravisory Investment Management Inc. Has $878,000 Holdings in PTC Inc. (NASDAQ:PTC)

Contravisory Investment Management Inc. lessened its holdings in shares of PTC Inc. (NASDAQ:PTC) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,862 shares of the technology company’s stock after selling 56 shares during the period. Contravisory Investment Management Inc.’s holdings in PTC were worth $878,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of PTC. Blue Trust Inc. raised its stake in 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 buying an additional 122 shares during the last quarter. First Horizon Advisors Inc. increased its stake in PTC by 77.5% in the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after purchasing an additional 62 shares in the last quarter. Rothschild Investment LLC bought a new stake in PTC in the second quarter valued at $29,000. International Assets Investment Management LLC bought a new stake in PTC in the second quarter valued at $30,000. Finally, OFI Invest Asset Management bought a new stake in PTC in the second quarter valued at $31,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Buying and Selling at PTC

In other PTC news, Director Robert Schechter sold 5,000 shares of the business’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 directly owns 59,616 shares in the company, valued at $10,237,855.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value of $170,000.00. Following the sale, the executive vice president now owns 13,902 shares of the company’s stock, valued at $2,363,340. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $858,650.00. Following the completion of the sale, the director now directly owns 59,616 shares in the company, valued at approximately $10,237,855.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,000 shares of company stock worth $1,714,010 over the last three months. 1.17% of the stock is currently owned by insiders.

PTC Stock Down 0.7 %

PTC stock opened at $180.39 on Friday. PTC Inc. has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The stock has a market cap of $21.67 billion, a PE ratio of 73.63, a price-to-earnings-growth ratio of 2.67 and a beta of 1.17. The firm’s 50-day simple moving average is $174.55 and its 200 day simple moving average is $177.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. PTC had a net margin of 13.32% and a return on equity of 13.36%. The business had revenue of $518.64 million for the quarter, compared to analysts’ expectations of $533.04 million. Research analysts predict that PTC Inc. will post 3.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PTC. 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 research note on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $202.00 price objective on shares of PTC in a report on Thursday, August 1st. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Thursday. Finally, StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.18.

About PTC

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.