State of New Jersey Common Pension Fund D Reduces Position in PTC Inc. (NASDAQ:PTC)

State of New Jersey Common Pension Fund D decreased its holdings in shares of PTC Inc. (NASDAQ:PTC) by 34.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,489 shares of the technology company’s stock after selling 21,208 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in PTC were worth $7,356,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PTC. Coldstream Capital Management Inc. boosted its position in shares of PTC by 2.1% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,615 shares of the technology company’s stock valued at $458,000 after acquiring an additional 55 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of PTC by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock valued at $1,865,000 after acquiring an additional 61 shares during the last quarter. Diversified Trust Co boosted its position in shares of PTC by 2.9% during the 2nd quarter. Diversified Trust Co now owns 2,193 shares of the technology company’s stock valued at $398,000 after acquiring an additional 62 shares during the last quarter. First Horizon Advisors Inc. boosted its position 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 acquiring an additional 62 shares during the last quarter. Finally, Fidelis Capital Partners LLC boosted its position in shares of PTC by 5.4% during the 1st quarter. Fidelis Capital Partners LLC now owns 1,454 shares of the technology company’s stock valued at $275,000 after acquiring an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

PTC has been the topic of several recent research reports. Mizuho reissued a “neutral” rating and set a $190.00 price target (down previously from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $202.00 target price on shares of PTC in a research report on Thursday, August 1st. Rosenblatt Securities upped their target price on shares of PTC from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Piper Sandler upped their target price on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, PTC currently has an average rating of “Moderate Buy” and a consensus price target of $200.18.

Insider Buying and Selling

In related news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $171.34, for a total transaction of $685,360.00. Following the sale, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert Schechter sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total transaction of $858,650.00. Following the sale, the director now directly owns 59,616 shares in the company, valued at $10,237,855.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the sale, the director now owns 44,137 shares in the company, valued at $7,562,433.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,000 shares of company stock worth $2,431,330. Company insiders own 1.17% of the company’s stock.

PTC Stock Up 0.8 %

Shares of PTC opened at $172.23 on Monday. The stock has a market capitalization of $20.69 billion, a PE ratio of 72.06, a P/E/G ratio of 3.14 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 debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The company’s 50-day simple moving average is $174.74 and its 200-day simple moving average is $178.83.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. The business had revenue of $518.64 million for the quarter, compared to analysts’ expectations of $533.04 million. PTC had a net margin of 13.32% and a return on equity of 13.36%. Analysts forecast that PTC Inc. will post 3.52 earnings per share for the current fiscal 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.