Mutual of America Capital Management LLC Cuts Stock Holdings in PTC Inc. (NASDAQ:PTC)

Mutual of America Capital Management LLC decreased its position in PTC Inc. (NASDAQ:PTC - Free Report) by 35.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,026 shares of the technology company's stock after selling 9,408 shares during the quarter. Mutual of America Capital Management LLC's holdings in PTC were worth $2,638,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. bought a new position in shares of PTC during the fourth quarter valued at about $223,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of PTC during the fourth quarter valued at approximately $522,000. Commonwealth Equity Services LLC lifted its position in shares of PTC by 16.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,632 shares of the technology company's stock worth $668,000 after purchasing an additional 523 shares during the period. Cibc World Markets Corp raised its stake in PTC by 16.4% during the fourth quarter. Cibc World Markets Corp now owns 18,976 shares of the technology company's stock valued at $3,489,000 after buying an additional 2,675 shares during the last quarter. Finally, Generali Asset Management SPA SGR bought a new position in PTC during the 4th quarter valued at about $1,148,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PTC shares. KeyCorp reaffirmed an "overweight" rating and set a $192.00 price target (up from $185.00) on shares of PTC in a research note on Monday, July 7th. Wall Street Zen lowered shares of PTC from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 price target on shares of PTC in a report on Thursday, May 1st. Oppenheimer boosted their price objective on shares of PTC from $190.00 to $210.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, BMO Capital Markets raised their target price on shares of PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $192.92.

PTC Stock Performance

PTC stock traded up $2.61 during midday trading on Friday, hitting $199.61. The stock had a trading volume of 880,146 shares, compared to its average volume of 936,051. The stock has a 50-day simple moving average of $174.56 and a 200 day simple moving average of $168.44. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $213.14. The firm has a market capitalization of $23.94 billion, a price-to-earnings ratio of 54.84, a P/E/G ratio of 2.72 and a beta of 1.17. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.40.

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

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the business's 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 in the company, valued at approximately $2,836,960. The trade was a 10.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.32% of the company's stock.

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.