Bank of New York Mellon Corp Lowers Position in PTC Inc. $PTC

Bank of New York Mellon Corp decreased its position in shares of PTC Inc. (NASDAQ:PTC) by 3.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 693,628 shares of the technology company’s stock after selling 28,261 shares during the period. Bank of New York Mellon Corp’s holdings in PTC were worth $140,820,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC bought a new position in PTC in the third quarter worth $30,000. SJS Investment Consulting Inc. grew its position 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 period. Versant Capital Management Inc grew its position 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 period. Geneos Wealth Management Inc. increased its stake in shares of PTC by 34.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company’s stock worth $46,000 after acquiring an additional 76 shares in the last quarter. Finally, Assetmark Inc. lifted its position in PTC by 339.3% during 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 period. Institutional investors own 95.14% of the company’s stock.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 6,328 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the transaction, the executive vice president owned 12,386 shares in the company, valued at approximately $2,144,512.04. This trade represents a 80.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 61,277 shares of company stock valued at $10,624,076. Company insiders own 0.29% of the company’s stock.

PTC Price Performance

PTC opened at $156.13 on Friday. The company’s 50-day simple moving average is $171.68 and its two-hundred day simple moving average is $191.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.43. The stock 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 52-week low of $133.38 and a 52-week high of $219.69.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PTC shares. Citigroup cut their price objective on shares of PTC from $185.00 to $181.00 and set a “neutral” rating on the stock in a report on Wednesday. Wall Street Zen raised PTC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Oppenheimer dropped their target price on PTC from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday. Rosenblatt Securities restated a “buy” rating and set a $220.00 price target on shares of PTC in a report on Tuesday, January 27th. Finally, Piper Sandler lowered their price target on PTC from $200.00 to $175.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently 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.