Truist Financial Corp Cuts Stake in PTC Inc. (NASDAQ:PTC)

Truist Financial Corp trimmed its position in PTC Inc. (NASDAQ:PTC - Free Report) by 14.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,072 shares of the technology company's stock after selling 12,974 shares during the quarter. Truist Financial Corp owned about 0.06% of PTC worth $13,135,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in PTC by 6.6% during the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company's stock valued at $1,965,137,000 after acquiring an additional 859,227 shares in the last quarter. Invesco Ltd. increased its position in shares of PTC by 5.8% in the third quarter. Invesco Ltd. now owns 2,494,767 shares of the technology company's stock valued at $353,459,000 after buying an additional 137,100 shares in the last quarter. FMR LLC increased its position in shares of PTC by 6.0% in the third quarter. FMR LLC now owns 1,989,152 shares of the technology company's stock valued at $281,823,000 after buying an additional 113,037 shares in the last quarter. Northern Trust Corp increased its position in shares of PTC by 15.6% in the third quarter. Northern Trust Corp now owns 1,252,741 shares of the technology company's stock valued at $177,488,000 after buying an additional 168,917 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PTC by 12.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,010,963 shares of the technology company's stock valued at $143,233,000 after buying an additional 109,664 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Stock Down 2.5 %

NASDAQ PTC traded down $4.36 during trading hours on Thursday, hitting $170.60. 2,101,413 shares of the company were exchanged, compared to its average volume of 857,120. The company has a 50 day moving average of $183.40 and a two-hundred day moving average of $170.96. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.80. PTC Inc. has a 52-week low of $124.42 and a 52-week high of $194.24. The firm has a market cap of $20.40 billion, a price-to-earnings ratio of 86.60, a PEG ratio of 3.17 and a beta of 1.19.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. The company had revenue of $550.21 million for the quarter, compared to the consensus estimate of $538.59 million. PTC had a return on equity of 12.87% and a net margin of 10.86%. Equities research analysts anticipate that PTC Inc. will post 3.47 earnings per share for the current year.

Insider Activity at PTC

In other news, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the transaction, the chief executive officer now directly owns 968,357 shares of the company's stock, valued at approximately $171,631,594.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Catherine Kniker sold 1,330 shares of PTC stock in a transaction on Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the transaction, the insider now owns 13,864 shares in the company, valued at $2,489,835.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James E. Heppelmann sold 35,000 shares of the firm's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the transaction, the chief executive officer now directly owns 968,357 shares in the company, valued at $171,631,594.68. The disclosure for this sale can be found here. Insiders own 1.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PTC. Barclays lifted their price target on PTC from $198.00 to $215.00 and gave the stock an "overweight" rating in a research note on Thursday, April 11th. Robert W. Baird lifted their price target on PTC from $210.00 to $216.00 and gave the stock an "outperform" rating in a research note on Thursday. BMO Capital Markets lifted their price target on PTC from $195.00 to $200.00 and gave the stock an "outperform" rating in a research note on Thursday, February 1st. Citigroup lowered their price objective on PTC from $195.00 to $187.00 and set a "neutral" rating on the stock in a research note on Thursday. Finally, Rosenblatt Securities reissued a "buy" rating and set a $195.00 price objective on shares of PTC in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $200.64.

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.