New York State Common Retirement Fund Reduces Stake in PTC Inc. (NASDAQ:PTC)

New York State Common Retirement Fund reduced its stake in PTC Inc. (NASDAQ:PTC) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 220,298 shares of the technology company’s stock after selling 5,792 shares during the quarter. New York State Common Retirement Fund owned approximately 0.18% of PTC worth $38,543,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Legacy Financial Group LLC purchased a new stake in PTC in the 3rd quarter valued at $28,000. Lindbrook Capital LLC grew its holdings in shares of PTC by 108.3% during the 4th quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after purchasing an additional 91 shares during the period. Resources Management Corp CT ADV grew its holdings in shares of PTC by 4,285.7% during the 3rd quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock worth $43,000 after purchasing an additional 300 shares during the period. CWM LLC grew its holdings in shares of PTC by 6.9% during the 3rd quarter. CWM LLC now owns 1,155 shares of the technology company’s stock worth $164,000 after purchasing an additional 75 shares during the period. Finally, Delta Capital Management LLC purchased a new position in shares of PTC during the 4th quarter worth $205,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PTC

In other PTC 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 sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Catherine Kniker sold 1,330 shares of the stock in a transaction dated 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 owns 13,864 shares in the company, valued at approximately $2,489,835.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction dated Monday, February 5th. The shares were 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 in the company, valued at approximately $171,631,594.68. The disclosure for this sale can be found here. Insiders have sold 36,415 shares of company stock valued at $6,457,478 in the last quarter. Corporate insiders own 1.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PTC. JPMorgan Chase & Co. upgraded PTC from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $130.00 to $200.00 in a report on Thursday, January 4th. Barclays increased their price target on PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Piper Sandler increased their price target on PTC from $155.00 to $177.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. KeyCorp increased their price target on PTC from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price target on shares of PTC in a report on Friday, April 12th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $202.40.

PTC Price Performance

PTC opened at $180.50 on Thursday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.80. The firm has a market cap of $21.58 billion, a price-to-earnings ratio of 91.62, a PEG ratio of 3.22 and a beta of 1.17. The stock’s 50-day moving average price is $183.53 and its 200 day moving average price is $169.70. PTC Inc. has a 12-month low of $120.62 and a 12-month high of $194.24.

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

PTC Company 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.