PTC Inc. (NASDAQ:PTC) Short Interest Down 26.7% in January

PTC Inc. (NASDAQ:PTC) saw a large decline in short interest in January. As of January 31st, there was short interest totalling 1,760,000 shares, a decline of 26.7% from the January 15th total of 2,400,000 shares. Based on an average daily trading volume, of 932,100 shares, the short-interest ratio is presently 1.9 days.

Analysts Set New Price Targets

Several research firms recently weighed in on PTC. JPMorgan Chase & Co. upped their price target on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Robert W. Baird increased their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. KeyCorp increased their target price on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus boosted their price target on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, PTC presently has an average rating of “Moderate Buy” and an average target price of $210.09.

Insider Transactions at PTC

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the sale, the executive vice president now owns 21,707 shares in the company, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kristian Talvitie sold 10,306 shares of PTC stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the transaction, the chief financial officer now owns 57,134 shares in the company, valued at approximately $11,389,091.56. The trade was a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,242 shares of company stock valued at $3,630,716. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On PTC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of PTC during the fourth quarter worth approximately $30,000. Allworth Financial LP lifted its holdings in shares of PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after buying an additional 69 shares during the last quarter. Covestor Ltd lifted its holdings in shares of PTC by 70.8% during the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after buying an additional 80 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of PTC during the fourth quarter worth approximately $51,000. Finally, Assetmark Inc. lifted its holdings in shares of PTC by 825.0% during the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock worth $61,000 after buying an additional 297 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Stock Performance

PTC traded up $3.17 on Friday, hitting $171.10. The company had a trading volume of 1,445,065 shares, compared to its average volume of 1,040,106. The company’s fifty day moving average price is $186.10 and its 200 day moving average price is $183.40. PTC has a 1-year low of $163.30 and a 1-year high of $203.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.23 and a quick ratio of 0.78. The stock has a market cap of $20.59 billion, a price-to-earnings ratio of 52.81, a price-to-earnings-growth ratio of 2.33 and a beta of 1.19.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. Equities analysts predict that PTC will post 4.62 earnings per share for the current fiscal year.

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.