Texas Permanent School Fund Corp Lowers Stock Holdings in PTC Inc. $PTC

Texas Permanent School Fund Corp reduced its stake in PTC Inc. (NASDAQ:PTC) by 34.6% during the second quarter, HoldingsChannel.com reports. The firm owned 8,344 shares of the technology company’s stock after selling 4,411 shares during the quarter. Texas Permanent School Fund Corp’s holdings in PTC were worth $1,438,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PTC. Norges Bank purchased a new position in PTC during the second quarter valued at $155,673,000. CCLA Investment Management bought a new position in shares of PTC during the second quarter valued at $94,629,000. Vanguard Group Inc. raised its position in shares of PTC by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock worth $2,541,838,000 after purchasing an additional 416,791 shares during the last quarter. Lazard Asset Management LLC grew its position in PTC by 31.4% during the 2nd quarter. Lazard Asset Management LLC now owns 1,547,622 shares of the technology company’s stock valued at $266,715,000 after purchasing an additional 370,097 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in PTC by 27.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,517,480 shares of the technology company’s stock valued at $235,134,000 after purchasing an additional 327,326 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 6,328 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $174.79, for a total value of $1,106,071.12. Following the completion of the sale, the executive vice president owned 22,461 shares in the company, valued at $3,925,958.19. This represents a 21.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kristian Talvitie sold 50,291 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total value of $8,707,383.74. Following the completion of the transaction, the executive vice president directly owned 12,386 shares in the company, valued at $2,144,512.04. This trade represents a 80.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 61,277 shares of company stock worth $10,624,076. 0.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PTC shares. Wall Street Zen cut shares of PTC from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Zacks Research downgraded shares of PTC from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Rosenblatt Securities decreased their price objective on shares of PTC from $227.00 to $220.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of PTC in a research report on Monday. Finally, Piper Sandler cut their target price on PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.92.

PTC Stock Down 1.7%

PTC opened at $176.02 on Wednesday. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 2.99 and a beta of 1.03. The firm has a 50 day moving average price of $183.32 and a 200-day moving average price of $192.50. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $219.69. The company has a quick ratio of 1.43, a current ratio of 1.12 and a debt-to-equity ratio of 0.31.

PTC (NASDAQ:PTC) last posted its earnings results on Friday, November 21st. The technology company reported $2.10 EPS for the quarter. The business had revenue of $1.76 billion during the quarter. PTC had a net margin of 27.05% and a return on equity of 23.03%. Equities research analysts forecast that PTC Inc. will post 4.46 earnings per share for the current year.

About PTC

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.