State Street Corp Decreases Stake in PTC Inc (NASDAQ:PTC)

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State Street Corp reduced its stake in shares of PTC Inc (NASDAQ:PTC) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,419,245 shares of the technology company’s stock after selling 84,842 shares during the period. State Street Corp’s holdings in PTC were worth $233,124,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ilmarinen Mutual Pension Insurance Co purchased a new position in PTC during the 3rd quarter worth approximately $6,818,000. Tower Research Capital LLC TRC raised its stake in shares of PTC by 39.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,087 shares of the technology company’s stock valued at $211,000 after buying an additional 878 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of PTC by 27.9% during the 3rd quarter. Alps Advisors Inc. now owns 10,377 shares of the technology company’s stock valued at $708,000 after buying an additional 2,264 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of PTC by 486.0% in the 3rd quarter. SG Americas Securities LLC now owns 56,269 shares of the technology company’s stock valued at $3,836,000 after buying an additional 46,667 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of PTC by 10.0% in the 3rd quarter. First Trust Advisors LP now owns 6,319 shares of the technology company’s stock valued at $431,000 after buying an additional 577 shares during the period. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Kathleen Mitford sold 340 shares of PTC stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $76.50, for a total transaction of $26,010.00. Following the transaction, the executive vice president now owns 20,592 shares in the company, valued at $1,575,288. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James E. Heppelmann sold 25,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $74.65, for a total value of $1,866,250.00. Insiders have sold 26,553 shares of company stock worth $1,979,228 over the last 90 days. 9.91% of the stock is currently owned by company insiders.

NASDAQ PTC opened at $75.76 on Wednesday. The business has a fifty day moving average price of $71.15 and a 200 day moving average price of $75.19. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $8.85 billion, a P/E ratio of 83.25 and a beta of 1.17. PTC Inc has a one year low of $62.05 and a one year high of $102.47.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.18. The business had revenue of $335.00 million during the quarter, compared to analyst estimates of $333.86 million. PTC had a net margin of 2.33% and a return on equity of 12.23%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, sell-side analysts predict that PTC Inc will post 1.4 EPS for the current fiscal year.

Several research analysts recently weighed in on the company. ValuEngine upgraded PTC from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Citigroup dropped their price objective on shares of PTC from $89.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $83.00 target price on shares of PTC in a report on Tuesday, November 26th. Zacks Investment Research upgraded shares of PTC from a “sell” rating to a “hold” rating in a research note on Saturday, October 26th. Finally, Evercore ISI reissued a “buy” rating and issued a $104.00 price target on shares of PTC in a research note on Sunday, November 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $87.47.

PTC Company Profile

PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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