Bank of New York Mellon Corp Sells 3,892 Shares of PTC Inc. (NASDAQ:PTC)

Bank of New York Mellon Corp reduced its stake in PTC Inc. (NASDAQ:PTC) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 761,285 shares of the technology company’s stock after selling 3,892 shares during the quarter. Bank of New York Mellon Corp’s holdings in PTC were worth $139,978,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PTC. Fernbridge Capital Management LP boosted its position in shares of PTC by 83.7% in the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after purchasing an additional 650,990 shares in the last quarter. D1 Capital Partners L.P. bought a new position in PTC in the 3rd quarter valued at approximately $84,549,000. Massachusetts Financial Services Co. MA lifted its position in PTC by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after acquiring an additional 150,652 shares in the last quarter. JPMorgan Chase & Co. lifted its position in PTC by 33.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after acquiring an additional 135,677 shares in the last quarter. Finally, State Street Corp lifted its position in PTC by 2.7% in the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock valued at $917,088,000 after acquiring an additional 133,370 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 5,373 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the sale, the executive vice president now owns 21,707 shares in the company, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kristian Talvitie sold 10,306 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the completion of the sale, the chief financial officer now owns 57,134 shares of the company’s stock, valued at $11,389,091.56. The trade was a 15.28 % decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

PTC Trading Up 0.5 %

NASDAQ:PTC opened at $163.63 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $19.69 billion, a price-to-earnings ratio of 50.50, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. PTC Inc. has a one year low of $160.53 and a one year high of $203.09. The business has a fifty day moving average price of $179.98 and a 200-day moving average price of $182.89.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. Sell-side analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PTC shares. Royal Bank of Canada upped their price objective on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research report on Saturday. KeyCorp upped their price objective on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Robert W. Baird increased their price target on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Citigroup lowered their price target on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, PTC currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

About PTC

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.