New York State Teachers Retirement System Trims Stock Position in PTC Inc. (NASDAQ:PTC)

New York State Teachers Retirement System lessened its holdings in shares of PTC Inc. (NASDAQ:PTC) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,609 shares of the technology company’s stock after selling 2,281 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of PTC worth $19,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PTC. Fernbridge Capital Management LP increased its holdings in PTC by 83.7% in the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after buying an additional 650,990 shares in the last quarter. Congress Asset Management Co. increased its holdings in PTC by 767.8% in the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock valued at $119,746,000 after buying an additional 586,443 shares in the last quarter. D1 Capital Partners L.P. purchased a new position in PTC in the third quarter valued at $84,549,000. Massachusetts Financial Services Co. MA increased its holdings in PTC by 19.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after buying an additional 150,652 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in PTC by 33.7% in the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after buying an additional 135,677 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling at PTC

In other news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at approximately $160,356. The trade was a 67.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Staats Aaron C. Von sold 5,373 shares of the business’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 transaction of $1,075,298.49. Following the completion of the sale, the executive vice president now directly owns 21,707 shares in the company, valued at $4,344,221.91. This trade represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock worth $3,630,716 in the last ninety days. 0.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PTC has been the subject of a number of recent analyst reports. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and cut their price objective for the company from $210.00 to $196.00 in a report on Friday, November 1st. Royal Bank of Canada lifted their target price 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. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Finally, Piper Sandler lifted their target price on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Stock Performance

PTC opened at $171.10 on Monday. The firm has a market capitalization of $20.59 billion, a PE ratio of 52.81, a PEG ratio of 2.33 and a beta of 1.19. PTC Inc. has a twelve month low of $163.30 and a twelve month high of $203.09. The firm’s 50-day moving average price is $186.10 and its 200 day moving average price is $183.44. The company has a current ratio of 1.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.48.

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 net margin of 16.95% and a return on equity of 14.49%. As a group, sell-side analysts expect that PTC Inc. will post 4.62 EPS for the current fiscal year.

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.