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

New York State Common Retirement Fund raised its stake in PTC Inc. (NASDAQ:PTC) by 0.6% during the fourth quarter, Holdings Channel reports. The fund owned 197,235 shares of the technology company’s stock after buying an additional 1,103 shares during the period. New York State Common Retirement Fund’s holdings in PTC were worth $36,266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PTC. Blue Trust Inc. boosted its stake in PTC by 473.9% in the third quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock valued at $144,000 after acquiring an additional 654 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of PTC by 8.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,238 shares of the technology company’s stock valued at $1,127,000 after buying an additional 493 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of PTC by 5.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,461 shares of the technology company’s stock valued at $264,000 after buying an additional 82 shares in the last quarter. Signaturefd LLC lifted its stake in shares of PTC by 9.3% during the 3rd quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock valued at $162,000 after buying an additional 76 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of PTC by 786.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,445 shares of the technology company’s stock valued at $261,000 after buying an additional 1,282 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Stock Performance

NASDAQ PTC opened at $165.76 on Friday. The company’s 50 day simple moving average is $184.34 and its two-hundred day simple moving average is $183.30. The stock has a market capitalization of $19.94 billion, a PE ratio of 51.16, a P/E/G ratio of 2.34 and a beta of 1.19. PTC Inc. has a 1 year low of $163.30 and a 1 year high of $203.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. Analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Transactions at PTC

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the transaction, the executive vice president now owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Corinna Lathan sold 860 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the transaction, the director now directly owns 6,843 shares in the company, valued at approximately $1,368,600. This represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,539 shares of company stock valued at $3,301,697 in the last quarter. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PTC has been the topic of a number of recent research reports. Stifel Nicolaus upped their price target on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and dropped their price target for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Piper Sandler upped their price target on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Finally, Citigroup dropped their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and an average price target of $210.09.

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.