New York State Common Retirement Fund Lowers Stock Holdings in PTC Inc. (NASDAQ:PTC)

New York State Common Retirement Fund lowered its holdings in PTC Inc. (NASDAQ:PTC) by 2.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 220,298 shares of the technology company’s stock after selling 5,792 shares during the period. New York State Common Retirement Fund’s holdings in PTC were worth $38,543,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Metis Global Partners LLC grew its position in PTC by 24.4% during the third quarter. Metis Global Partners LLC now owns 5,783 shares of the technology company’s stock valued at $819,000 after acquiring an additional 1,133 shares during the period. Silverberg Bernstein Capital Management LLC purchased a new stake in PTC during the fourth quarter valued at about $9,647,000. Ballentine Partners LLC grew its position in PTC by 786.0% during the fourth quarter. Ballentine Partners LLC now owns 15,336 shares of the technology company’s stock valued at $2,683,000 after acquiring an additional 13,605 shares during the period. Wellington Management Group LLP grew its position in PTC by 153.9% during the third quarter. Wellington Management Group LLP now owns 111,340 shares of the technology company’s stock valued at $15,775,000 after acquiring an additional 67,493 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in PTC by 3.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 788,746 shares of the technology company’s stock valued at $137,999,000 after acquiring an additional 23,716 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Trading Up 0.0 %

Shares of PTC opened at $180.50 on Thursday. The company has a market capitalization of $21.58 billion, a P/E ratio of 91.62, a P/E/G ratio of 3.22 and a beta of 1.17. PTC Inc. has a one year low of $120.62 and a one year high of $194.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a 50-day moving average price of $183.53 and a 200 day moving average price of $169.70.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $550.21 million during the quarter, compared to the consensus estimate of $538.59 million. PTC had a return on equity of 12.87% and a net margin of 10.86%. Sell-side analysts forecast that PTC Inc. will post 3.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PTC has been the subject of a number of research reports. Piper Sandler boosted their price target on PTC from $155.00 to $177.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. BMO Capital Markets increased their target price on PTC from $195.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Mizuho increased their target price on PTC from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 target price on shares of PTC in a research note on Thursday, February 1st. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, PTC presently has an average rating of “Moderate Buy” and an average price target of $202.40.

Insider Activity at PTC

In related news, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the transaction, the chief executive officer now owns 968,357 shares of the company’s stock, valued at $171,631,594.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other PTC news, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the transaction, the chief executive officer now owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Catherine Kniker sold 1,330 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the transaction, the insider now directly owns 13,864 shares in the company, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,415 shares of company stock valued at $6,457,478. Insiders own 1.17% of the company’s stock.

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.