Teachers Retirement System of The State of Kentucky Cuts Holdings in PTC Inc. (NASDAQ:PTC)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 8.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,582 shares of the technology company's stock after selling 4,011 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in PTC were worth $7,693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its stake in PTC by 23.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,379 shares of the technology company's stock valued at $251,000 after purchasing an additional 259 shares during the period. Diversified Trust Co increased its position in PTC by 2.9% during the second quarter. Diversified Trust Co now owns 2,193 shares of the technology company's stock worth $398,000 after acquiring an additional 62 shares during the period. Swedbank AB raised its stake in PTC by 12.6% in the 2nd quarter. Swedbank AB now owns 58,672 shares of the technology company's stock worth $10,659,000 after purchasing an additional 6,543 shares in the last quarter. 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 purchasing an additional 122 shares in the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of PTC during the second quarter worth approximately $31,000. 95.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other PTC news, CAO Alice Christenson sold 1,703 shares of the firm's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the sale, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Staats Aaron C. Von sold 5,373 shares of the company's stock in a transaction dated 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 $4,344,221.91. This represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,242 shares of company stock worth $3,630,716. 1.17% of the stock is currently owned by insiders.

PTC Trading Down 1.3 %

Shares of PTC stock traded down $2.62 during trading on Friday, hitting $198.68. The company's stock had a trading volume of 593,390 shares, compared to its average volume of 799,304. The stock has a market cap of $23.87 billion, a price-to-earnings ratio of 63.74, a price-to-earnings-growth ratio of 2.74 and a beta of 1.16. PTC Inc. has a 52 week low of $163.30 and a 52 week high of $203.09. The stock has a 50-day moving average price of $190.66 and a two-hundred day moving average price of $181.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78.

Analysts Set New Price Targets

A number of equities analysts have commented on PTC shares. Berenberg Bank lowered PTC from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Rosenblatt Securities reaffirmed a "buy" rating and set a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price objective on shares of PTC from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, December 2nd. Piper Sandler lifted their target price on PTC from $182.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada increased 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. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.