Short Interest in PTC Inc. (NASDAQ:PTC) Increases By 19.2%

PTC Inc. (NASDAQ:PTC - Get Free Report) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 2,920,000 shares, an increase of 19.2% from the April 30th total of 2,450,000 shares. Based on an average daily volume of 988,500 shares, the days-to-cover ratio is presently 3.0 days. Approximately 2.4% of the shares of the company are sold short.

PTC Stock Up 0.0%

PTC traded up $0.05 during trading on Wednesday, hitting $168.17. The company had a trading volume of 682,942 shares, compared to its average volume of 877,115. The firm's 50-day moving average price is $157.28 and its 200 day moving average price is $172.21. PTC has a one year low of $133.38 and a one year high of $203.09. The company has a market capitalization of $20.17 billion, a PE ratio of 51.90, a PEG ratio of 2.27 and a beta of 1.19. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.42. PTC had a return on equity of 14.49% and a net margin of 16.95%. The business had revenue of $636.37 million during the quarter, compared to analysts' expectations of $608.64 million. During the same quarter last year, the company posted $1.46 earnings per share. PTC's quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities analysts expect that PTC will post 4.46 earnings per share for the current year.

Insider Activity

In related news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the sale, the director now owns 7,604 shares of the company's stock, valued at approximately $1,182,650.12. This trade represents a 7.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction that occurred 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 now directly owns 17,731 shares in the company, valued at $2,836,960. This trade represents a 10.08% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.32% of the company's stock.

Institutional Trading of PTC

Hedge funds and other institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its holdings in shares of PTC by 17.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company's stock worth $3,147,478,000 after buying an additional 3,048,311 shares in the last quarter. Vanguard Group Inc. lifted its holdings in PTC by 0.3% during the first quarter. Vanguard Group Inc. now owns 14,332,180 shares of the technology company's stock worth $2,220,771,000 after acquiring an additional 39,688 shares during the period. Geode Capital Management LLC grew its position in PTC by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company's stock valued at $555,626,000 after buying an additional 67,504 shares during the period. Pictet Asset Management Holding SA grew its position in shares of PTC by 41.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock valued at $445,687,000 after acquiring an additional 844,418 shares during the period. Finally, Wellington Management Group LLP increased its position in PTC by 1.9% in the first quarter. Wellington Management Group LLP now owns 2,370,972 shares of the technology company's stock worth $367,382,000 after buying an additional 44,961 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler decreased their target price on PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $160.00 price objective (down previously from $210.00) on shares of PTC in a report on Wednesday, April 9th. Rosenblatt Securities restated a "buy" rating and issued a $204.00 price objective on shares of PTC in a research report on Thursday, May 1st. Mizuho dropped their price objective on shares of PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Finally, Stifel Nicolaus reduced their price target on shares of PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $187.15.

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.

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