Peregrine Capital Management LLC Trims Stake in PTC Inc. $PTC

Peregrine Capital Management LLC lessened its holdings in PTC Inc. (NASDAQ:PTC) by 9.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 82,729 shares of the technology company’s stock after selling 8,522 shares during the quarter. Peregrine Capital Management LLC’s holdings in PTC were worth $16,796,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in PTC during the second quarter worth about $155,673,000. CCLA Investment Management bought a new stake in shares of PTC during the 2nd quarter valued at about $94,629,000. Vanguard Group Inc. grew its holdings in shares of PTC by 2.9% during the second quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock worth $2,541,838,000 after purchasing an additional 416,791 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of PTC by 31.4% in the second quarter. Lazard Asset Management LLC now owns 1,547,622 shares of the technology company’s stock worth $266,715,000 after purchasing an additional 370,097 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in PTC by 27.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,517,480 shares of the technology company’s stock valued at $235,134,000 after purchasing an additional 327,326 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

PTC News Summary

Here are the key news stories impacting PTC this week:

• Positive Sentiment: Analysts expect a double-digit rise in PTC’s upcoming quarter and previews highlight likely upside to EPS vs. prior quarter performance (PTC reported $2.10 EPS and healthy margins in its Nov quarter). Strong expected EPS is a near-term positive catalyst ahead of the earnings release. What to Expect From PTC Inc.’s Next Quarterly Earnings Report Barchart: Earnings Preview
• Neutral Sentiment: Multiple news items about an ISRO order and titanium manufacturing upgrades refer to “PTC Industries” (an Indian industrial supplier) — not PTC Inc. These stories may generate ticker confusion but do not reflect PTC Inc.’s business fundamentals. PTC Industries receives order from VSSC (ISRO) Swarajya: Plasma arc melting furnace at PTC’s Lucknow facility
• Neutral Sentiment: An item showing insider sales is for ticker PTCT (PTC Therapeutics), not PTC Inc.; that activity is unrelated to PTC Inc.’s management or capital structure but can cause broader ticker noise. QuiverQuant: PTCT insider sale
• Negative Sentiment: Technical/near-term factors: PTC is trading below its 50-day and well below its 200-day moving average, and intraday volume is slightly below average — this leaves the stock vulnerable to short-term profit-taking despite upbeat earnings previews. (Background trading and valuation: recent P/E ~28.3, PEG ~2.9.)

Insider Activity at PTC

In other news, EVP Kristian Talvitie sold 50,291 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total transaction of $8,707,383.74. Following the completion of the sale, the executive vice president owned 12,386 shares of the company’s stock, valued at approximately $2,144,512.04. This represents a 80.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Staats Aaron C. Von sold 6,328 shares of PTC 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 transaction, the executive vice president directly owned 22,461 shares in the company, valued at approximately $3,925,958.19. The trade was a 21.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 61,277 shares of company stock worth $10,624,076. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of PTC in a research note on Monday, December 29th. Piper Sandler dropped their price objective on shares of PTC from $200.00 to $175.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Rosenblatt Securities cut their target price on shares of PTC from $227.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Robert W. Baird set a $255.00 target price on PTC in a research note on Wednesday, October 22nd. Finally, Zacks Research lowered PTC from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, PTC currently has an average rating of “Moderate Buy” and an average target price of $205.92.

PTC Price Performance

Shares of NASDAQ:PTC opened at $173.57 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The stock has a market cap of $20.64 billion, a PE ratio of 28.27, a PEG ratio of 2.91 and a beta of 1.01. The company’s fifty day moving average is $176.60 and its 200 day moving average is $192.62. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $219.69.

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

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.