PTC Inc. (NASDAQ:PTC) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lessened its holdings in shares of PTC Inc. (NASDAQ:PTC) by 0.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,654 shares of the technology company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in PTC were worth $6,004,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP raised its holdings in PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after acquiring an additional 69 shares in the last quarter. Covestor Ltd raised its holdings in PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after acquiring an additional 80 shares in the last quarter. Brooklyn Investment Group acquired a new stake in PTC in the third quarter valued at approximately $66,000. Smartleaf Asset Management LLC raised its holdings in PTC by 83.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock valued at $83,000 after acquiring an additional 205 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in PTC in the fourth quarter valued at approximately $84,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Activity at PTC

In related news, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the transaction, the executive vice president now directly owns 21,707 shares in the company, valued at $4,344,221.91. This trade represents a 19.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by insiders.

PTC Stock Performance

Shares of PTC opened at $160.56 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The firm has a market cap of $19.32 billion, a PE ratio of 49.56, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The company’s 50 day simple moving average is $177.88 and its 200-day simple moving average is $182.54. PTC Inc. has a 12-month low of $155.53 and a 12-month high of $203.09.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (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%. As a group, equities analysts predict that PTC Inc. will post 4.46 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup reduced their target price on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. JPMorgan Chase & Co. increased 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. Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 price target on shares of PTC in a research note on Tuesday, February 4th. Royal Bank of Canada increased their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, KeyCorp increased their price target on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.09.

PTC 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.