New York State Common Retirement Fund Boosts Stake in PTC Inc. (NASDAQ:PTC)

New York State Common Retirement Fund raised its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,010 shares of the technology company's stock after acquiring an additional 7,775 shares during the quarter. New York State Common Retirement Fund owned approximately 0.17% of PTC worth $31,766,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. T. Rowe Price Investment Management Inc. grew its stake in shares of PTC by 11.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company's stock valued at $3,174,432,000 after buying an additional 1,773,653 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of PTC by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company's stock worth $2,627,961,000 after purchasing an additional 240,080 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of PTC by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company's stock valued at $555,626,000 after purchasing an additional 67,504 shares in the last quarter. Fernbridge Capital Management LP lifted its stake in shares of PTC by 6.0% in the 4th quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company's stock valued at $278,484,000 after purchasing an additional 85,564 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in PTC by 11.0% in the fourth quarter. Northern Trust Corp now owns 1,313,273 shares of the technology company's stock worth $241,472,000 after purchasing an additional 129,910 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PTC

In related news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction on Wednesday, May 7th. The stock was 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 approximately $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company's stock.

PTC Stock Performance

PTC stock traded up $2.81 during trading on Thursday, hitting $197.00. The stock had a trading volume of 1,279,057 shares, compared to its average volume of 935,366. The stock's 50 day moving average is $173.18 and its two-hundred day moving average is $168.24. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $213.14. The stock has a market cap of $23.63 billion, a price-to-earnings ratio of 54.12, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.40.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.37 by $0.42. The company had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. PTC had a net margin of 18.77% and a return on equity of 15.35%. PTC's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $1.46 EPS. As a group, analysts predict that PTC Inc. will post 4.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PTC shares. Piper Sandler lowered their price objective on PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. restated a "neutral" rating and issued a $160.00 price objective (down from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Mizuho lowered their target price on shares of PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. BMO Capital Markets upped their price target on shares of PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 price objective on shares of PTC in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, PTC has an average rating of "Moderate Buy" and a consensus target price of $192.92.

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.