PTC Inc. (NASDAQ:PTC) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 4.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 102,415 shares of the technology company's stock after selling 5,194 shares during the period. New York State Teachers Retirement System owned 0.09% of PTC worth $15,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its position in 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 acquiring an additional 1,773,653 shares during the period. Vanguard Group Inc. grew its stake in shares of PTC by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company's stock valued at $2,627,961,000 after purchasing an additional 240,080 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of PTC by 2.3% in 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 during the last quarter. Fernbridge Capital Management LP increased its holdings in shares of PTC by 6.0% in the fourth 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 period. Finally, Northern Trust Corp raised its stake in shares of PTC by 11.0% during 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 during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the transaction, the executive vice president directly owned 17,731 shares in the company, valued at approximately $2,836,960. This represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

PTC Trading Up 1.0%

NASDAQ:PTC traded up $1.82 on Friday, reaching $175.13. The stock had a trading volume of 468,442 shares, compared to its average volume of 893,104. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $203.09. The company has a market cap of $21.01 billion, a price-to-earnings ratio of 48.11, a P/E/G ratio of 2.37 and a beta of 1.17. The firm's fifty day moving average is $167.33 and its two-hundred day moving average is $168.14. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays lowered their price objective on shares of PTC from $215.00 to $175.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Piper Sandler lowered their target price on shares of PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus dropped their price target on shares of PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Mizuho reduced their price objective on shares of PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Finally, Oppenheimer reaffirmed a "cautious" rating on shares of PTC in a report on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $188.69.

PTC 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.