New York State Common Retirement Fund Grows Position in PTC Inc. $PTC

New York State Common Retirement Fund raised its position in shares of PTC Inc. (NASDAQ:PTC) by 7.4% during the 3rd quarter, Holdings Channel reports. The fund owned 236,790 shares of the technology company’s stock after purchasing an additional 16,330 shares during the period. New York State Common Retirement Fund’s holdings in PTC were worth $48,073,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Root Financial Partners LLC bought a new stake in PTC in the third quarter worth $30,000. SJS Investment Consulting Inc. increased its holdings in shares of PTC by 2,257.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 165 shares of the technology company’s stock worth $34,000 after buying an additional 158 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of PTC by 37.6% in the 3rd quarter. Versant Capital Management Inc now owns 194 shares of the technology company’s stock worth $39,000 after buying an additional 53 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of PTC by 34.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company’s stock valued at $46,000 after buying an additional 76 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of PTC by 339.3% in the 2nd quarter. Assetmark Inc. now owns 268 shares of the technology company’s stock valued at $46,000 after acquiring an additional 207 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Stock Up 1.7%

Shares of PTC opened at $156.13 on Friday. The firm has a fifty day moving average price of $171.68 and a 200-day moving average price of $191.05. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $18.57 billion, a P/E ratio of 25.43, a P/E/G ratio of 2.54 and a beta of 1.01. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $219.69.

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

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 6,328 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $174.79, for a total value of $1,106,071.12. Following the transaction, the executive vice president owned 22,461 shares of the company’s stock, valued at $3,925,958.19. This represents a 21.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kristian Talvitie sold 50,291 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total value of $8,707,383.74. Following the transaction, the executive vice president owned 12,386 shares in the company, valued at $2,144,512.04. The trade was a 80.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,277 shares of company stock valued at $10,624,076 in the last quarter. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PTC shares. Robert W. Baird set a $255.00 price objective on PTC in a research report on Wednesday, October 22nd. Piper Sandler decreased their price target on PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Oppenheimer lowered their price target on PTC from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and set a $220.00 price objective on shares of PTC in a research report on Tuesday. Finally, BMO Capital Markets lowered their target price on shares of PTC from $231.00 to $219.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, PTC currently has an average rating of “Moderate Buy” and a consensus price target of $201.77.

PTC Company 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.