PTC Inc. (NASDAQ:PTC) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its stake in shares of PTC Inc. (NASDAQ:PTC) by 3.9% during the first quarter, Holdings Channel.com reports. The fund owned 205,010 shares of the technology company’s stock after purchasing an additional 7,775 shares during the period. New York State Common Retirement Fund’s holdings in PTC were worth $31,766,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PTC. Bartlett & CO. Wealth Management LLC acquired a new position in PTC in the first quarter worth approximately $26,000. Aster Capital Management DIFC Ltd acquired a new position in PTC in the fourth quarter worth approximately $30,000. UMB Bank n.a. grew its position in PTC by 153.4% in the first quarter. UMB Bank n.a. now owns 294 shares of the technology company’s stock worth $46,000 after buying an additional 178 shares during the last quarter. Pinney & Scofield Inc. acquired a new position in PTC in the fourth quarter worth approximately $47,000. Finally, Kapitalo Investimentos Ltda acquired a new position in PTC in the fourth quarter worth approximately $51,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PTC. Stifel Nicolaus decreased their price target on shares of PTC from $230.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Mizuho decreased their price target on shares of PTC from $190.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Piper Sandler decreased their price target on shares of PTC from $202.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Robert W. Baird raised their price objective on shares of PTC from $185.00 to $191.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Finally, Wall Street Zen lowered shares of PTC from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $191.38.

Insider Activity

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the sale, the executive vice president owned 17,731 shares of the company’s stock, valued at $2,836,960. This trade represents a 10.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.32% of the stock is owned by company insiders.

PTC Trading Down 1.3%

PTC stock opened at $191.08 on Tuesday. The company has a 50 day moving average price of $171.85 and a 200 day moving average price of $167.89. The firm has a market capitalization of $22.92 billion, a price-to-earnings ratio of 52.49, a P/E/G ratio of 2.66 and a beta of 1.17. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $213.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.42. The company had revenue of $636.37 million during the quarter, compared to analyst estimates of $608.64 million. PTC had a net margin of 18.77% and a return on equity of 15.35%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. Research analysts forecast that PTC Inc. will post 4.46 EPS 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.