New York State Teachers Retirement System Lowers Stock Position in PTC Inc. (NASDAQ:PTC)

New York State Teachers Retirement System trimmed its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,609 shares of the technology company's stock after selling 2,281 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of PTC worth $19,786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wedmont Private Capital boosted its position in PTC by 1.6% during the fourth quarter. Wedmont Private Capital now owns 4,026 shares of the technology company's stock worth $734,000 after purchasing an additional 64 shares during the period. IFM Investors Pty Ltd boosted its position in PTC by 0.3% during the third quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company's stock worth $4,690,000 after purchasing an additional 66 shares during the period. Metis Global Partners LLC boosted its position in PTC by 1.1% during the third quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company's stock worth $1,202,000 after purchasing an additional 73 shares during the period. Signaturefd LLC boosted its position in PTC by 9.3% during the third quarter. Signaturefd LLC now owns 894 shares of the technology company's stock worth $162,000 after purchasing an additional 76 shares during the period. Finally, Equitable Trust Co. boosted its position in PTC by 2.2% during the third quarter. Equitable Trust Co. now owns 3,602 shares of the technology company's stock worth $651,000 after purchasing an additional 79 shares during the period. 95.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler lifted their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Stifel Nicolaus boosted their target price on shares of PTC from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. StockNews.com cut shares of PTC from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on shares of PTC from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, December 2nd. Finally, Citigroup reduced their target price on shares of PTC from $200.00 to $195.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.09.

PTC Stock Down 2.4 %

Shares of PTC stock traded down $4.16 during trading on Thursday, reaching $165.76. 1,024,468 shares of the company traded hands, compared to its average volume of 1,124,102. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. PTC Inc. has a 1-year low of $163.30 and a 1-year high of $203.09. The company has a 50 day moving average price of $184.34 and a 200-day moving average price of $183.30. The firm has a market capitalization of $19.94 billion, a PE ratio of 51.16, a P/E/G ratio of 2.34 and a beta of 1.19.

PTC (NASDAQ:PTC - Get Free Report) last released 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 net margin of 16.95% and a return on equity of 14.49%. As a group, equities research analysts expect that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 5,373 shares of the company's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the transaction, the executive vice president now owns 21,707 shares in the company, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kristian Talvitie sold 10,306 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the transaction, the chief financial officer now owns 57,134 shares in the company, valued at approximately $11,389,091.56. The trade was a 15.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,539 shares of company stock worth $3,301,697. Insiders own 0.32% of the company's stock.

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.