Bank of New York Mellon Corp Sells 3,892 Shares of PTC Inc. (NASDAQ:PTC)

Bank of New York Mellon Corp reduced its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 761,285 shares of the technology company's stock after selling 3,892 shares during the period. Bank of New York Mellon Corp owned about 0.63% of PTC worth $139,978,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Covestor Ltd increased its position in PTC by 70.8% during the third quarter. Covestor Ltd now owns 193 shares of the technology company's stock worth $35,000 after buying an additional 80 shares during the last quarter. Allworth Financial LP increased its holdings in shares of PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company's stock valued at $35,000 after acquiring an additional 69 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of PTC in the 3rd quarter valued at approximately $66,000. Sentry Investment Management LLC acquired a new stake in PTC in the 4th quarter worth approximately $84,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in PTC during the third quarter worth approximately $152,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Price Performance

NASDAQ:PTC traded down $0.61 during mid-day trading on Tuesday, hitting $159.95. The company's stock had a trading volume of 591,170 shares, compared to its average volume of 1,117,129. The company has a market capitalization of $19.25 billion, a price-to-earnings ratio of 49.33, a P/E/G ratio of 2.27 and a beta of 1.19. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC Inc. has a fifty-two week low of $155.53 and a fifty-two week high of $203.09. The stock has a fifty day moving average of $179.48 and a 200-day moving average of $182.95.

PTC (NASDAQ:PTC - Get Free Report) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. As a group, equities analysts forecast that PTC Inc. will post 4.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of PTC from $202.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on PTC from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, December 2nd. Citigroup decreased their target price on PTC from $200.00 to $195.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Piper Sandler lifted their price target on PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Finally, StockNews.com lowered PTC from a "buy" rating to a "hold" rating in a report on Saturday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $210.09.

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the sale, the executive vice president now directly owns 21,707 shares in the company, valued at $4,344,221.91. This represents a 19.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

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.