Teacher Retirement System of Texas Buys 16,469 Shares of PTC Inc. (NASDAQ:PTC)

Teacher Retirement System of Texas boosted its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 1,465.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,593 shares of the technology company's stock after purchasing an additional 16,469 shares during the quarter. Teacher Retirement System of Texas' holdings in PTC were worth $2,726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC bought a new position in PTC during the first quarter worth about $26,000. Aster Capital Management DIFC Ltd bought a new position in shares of PTC in the fourth quarter valued at about $30,000. UMB Bank n.a. raised its holdings in shares of PTC by 153.4% in the first quarter. UMB Bank n.a. now owns 294 shares of the technology company's stock valued at $46,000 after buying an additional 178 shares during the last quarter. Pinney & Scofield Inc. acquired a new position in PTC during the 4th quarter worth about $47,000. Finally, Kapitalo Investimentos Ltda acquired a new position in PTC during the 4th quarter worth about $51,000. Institutional investors and hedge funds own 95.14% of the company's stock.

PTC Trading Down 0.6%

Shares of PTC stock traded down $1.08 during trading on Friday, hitting $193.51. 2,369,965 shares of the company were exchanged, compared to its average volume of 930,923. The firm has a market capitalization of $23.21 billion, a P/E ratio of 53.16, a price-to-earnings-growth ratio of 2.68 and a beta of 1.17. The firm's fifty day moving average price is $171.26 and its 200 day moving average price is $168.11. 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 Inc. has a 1-year low of $133.38 and a 1-year high of $213.14.

PTC (NASDAQ:PTC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.37 by $0.42. The firm 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%. The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 earnings per share. As a group, sell-side analysts expect that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler dropped their target price on shares of PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Robert W. Baird raised their price target on shares of PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. BMO Capital Markets upped their price objective on PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Mizuho decreased their price objective on PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Barclays dropped their target price on PTC from $215.00 to $175.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. 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. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $189.23.

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.32% of the company's stock.

About PTC

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.