BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Holdings in PTC Inc. (NASDAQ:PTC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in PTC Inc. (NASDAQ:PTC - Free Report) by 12.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 19,977 shares of the technology company's stock after selling 2,919 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in PTC were worth $3,609,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in shares of PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company's stock valued at $26,000 after purchasing an additional 62 shares during the period. Blue Trust Inc. grew its position in shares of PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company's stock worth $26,000 after buying an additional 122 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of PTC during the 2nd quarter worth $29,000. International Assets Investment Management LLC purchased a new stake in PTC in the second quarter valued at about $30,000. Finally, OFI Invest Asset Management purchased a new position in shares of PTC in the second quarter worth about $31,000. Institutional investors own 95.14% of the company's stock.

PTC Stock Up 0.5 %

PTC traded up $0.99 during trading on Wednesday, hitting $201.19. The company had a trading volume of 542,581 shares, compared to its average volume of 804,329. The company has a market capitalization of $24.17 billion, a PE ratio of 64.69, a PEG ratio of 2.70 and a beta of 1.16. PTC Inc. has a one year low of $158.48 and a one year high of $202.77. The firm's 50-day moving average price is $188.10 and its 200 day moving average price is $180.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38.

Insider Transactions at PTC

In other news, Director Corinna Lathan sold 860 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the completion of the sale, the director now owns 6,843 shares of the company's stock, valued at approximately $1,368,600. This represents a 11.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 830 shares of the company's stock, valued at approximately $160,356. This represents a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,869 shares of company stock worth $2,555,418 in the last ninety days. Insiders own 1.17% of the company's stock.

Analyst Upgrades and Downgrades

PTC has been the topic of a number of analyst reports. StockNews.com upgraded PTC from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on PTC from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Monday. Robert W. Baird upped their price objective on PTC from $226.00 to $228.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Piper Sandler boosted their target price on PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $195.00 price target on shares of PTC in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $205.67.

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.