Perpetual Ltd Cuts Position in PTC Inc. (NASDAQ:PTC)

Perpetual Ltd decreased its position in PTC Inc. (NASDAQ:PTC - Free Report) by 12.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 425,842 shares of the technology company's stock after selling 62,956 shares during the period. Perpetual Ltd owned about 0.35% of PTC worth $78,300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Covestor Ltd lifted its holdings in shares of PTC by 70.8% in the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company's stock worth $35,000 after acquiring an additional 80 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of PTC in the 3rd quarter worth approximately $66,000. Park Place Capital Corp acquired a new position in shares of PTC in the 3rd quarter worth approximately $67,000. Resources Management Corp CT ADV increased its stake in PTC by 95.3% during the 2nd quarter. Resources Management Corp CT ADV now owns 713 shares of the technology company's stock worth $130,000 after buying an additional 348 shares during the period. Finally, Blue Trust Inc. increased its stake in PTC by 473.9% during the 3rd quarter. Blue Trust Inc. now owns 792 shares of the technology company's stock worth $144,000 after buying an additional 654 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Stock Performance

NASDAQ:PTC traded up $0.11 during trading hours on Tuesday, reaching $187.90. 882,810 shares of the company's stock were exchanged, compared to its average volume of 741,291. The firm has a market capitalization of $22.62 billion, a price-to-earnings ratio of 60.42, a P/E/G ratio of 2.55 and a beta of 1.18. The company has a 50-day moving average of $191.39 and a 200 day moving average of $183.00. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a 1-year low of $163.30 and a 1-year high of $203.09.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PTC shares. StockNews.com raised shares of PTC from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their target price on shares of PTC from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, December 2nd. Piper Sandler upped their target price on shares of PTC from $182.00 to $202.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Stifel Nicolaus upped their target price on shares of PTC from $200.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Finally, Berenberg Bank cut shares of PTC from a "buy" rating to a "hold" rating and lowered their target price for the company from $210.00 to $196.00 in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, PTC presently has a consensus rating of "Moderate Buy" and a consensus price target of $207.54.

Insider Buying and Selling

In other news, EVP Staats Aaron C. Von sold 5,373 shares of the firm's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the sale, the executive vice president now owns 21,707 shares in the company, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now owns 830 shares of the company's stock, valued at $160,356. This trade represents a 67.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock worth $3,630,716 in the last 90 days. Company insiders own 0.32% of the company's stock.

PTC 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.