State of Michigan Retirement System Purchases 200 Shares of PTC Inc. (NASDAQ:PTC)

State of Michigan Retirement System lifted its position in PTC Inc. (NASDAQ:PTC) by 0.6% in the 1st quarter, Holdings Channel reports. The fund owned 32,754 shares of the technology company’s stock after acquiring an additional 200 shares during the quarter. State of Michigan Retirement System’s holdings in PTC were worth $6,189,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of PTC by 1,409.3% in the fourth quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock worth $294,006,000 after acquiring an additional 1,569,081 shares during the last quarter. Twin Focus Capital Partners LLC purchased a new position in PTC in the fourth quarter worth about $177,081,000. Vanguard Group Inc. lifted its stake in shares of PTC by 6.6% in the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock worth $1,965,137,000 after buying an additional 859,227 shares in the last quarter. Norges Bank bought a new position in shares of PTC in the fourth quarter worth approximately $114,043,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of PTC by 173.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock valued at $95,050,000 after buying an additional 344,853 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PTC. Citigroup lowered their price objective on PTC from $195.00 to $187.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price objective on shares of PTC in a report on Friday, April 12th. Barclays upped their target price on shares of PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Mizuho reiterated a “neutral” rating and issued a $190.00 price target (down from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.73.

Insider Activity at PTC

In other news, COO Michael Ditullio sold 6,592 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $183.15, for a total value of $1,207,324.80. Following the completion of the sale, the chief operating officer now directly owns 53,148 shares of the company’s stock, valued at $9,734,056.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Michael Ditullio sold 6,592 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the completion of the sale, the chief operating officer now owns 53,148 shares in the company, valued at $9,734,056.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $178.20, for a total value of $712,800.00. Following the completion of the transaction, the director now directly owns 52,137 shares in the company, valued at $9,290,813.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,846 shares of company stock worth $2,137,631. 1.17% of the stock is owned by company insiders.

PTC Stock Up 1.0 %

PTC opened at $182.89 on Wednesday. The firm’s 50 day simple moving average is $178.13 and its two-hundred day simple moving average is $179.11. The company has a market capitalization of $21.89 billion, a PE ratio of 76.52, a PEG ratio of 3.42 and a beta of 1.18. PTC Inc. has a 1-year low of $134.61 and a 1-year high of $194.24. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.51.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, May 1st. The technology company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.23. PTC had a return on equity of 13.76% and a net margin of 12.84%. The company had revenue of $603.07 million for the quarter, compared to analysts’ expectations of $575.53 million. As a group, equities analysts forecast that PTC Inc. will post 3.48 EPS for the current year.

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.