Public Employees Retirement Association of Colorado Reduces Position in PTC Inc. (NASDAQ:PTC)

Public Employees Retirement Association of Colorado cut its holdings in shares of PTC Inc. (NASDAQ:PTC) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,960 shares of the technology company’s stock after selling 192 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in PTC were worth $24,518,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PTC. MQS Management LLC purchased a new stake in PTC in the 2nd quarter valued at $296,000. XTX Topco Ltd boosted its position in shares of PTC by 246.0% during the 2nd quarter. XTX Topco Ltd now owns 7,630 shares of the technology company’s stock valued at $1,386,000 after acquiring an additional 5,425 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of PTC in the second quarter valued at about $727,000. Hsbc Holdings PLC increased its position in PTC by 7.9% during the second quarter. Hsbc Holdings PLC now owns 235,316 shares of the technology company’s stock worth $42,856,000 after purchasing an additional 17,261 shares during the last quarter. Finally, Amalgamated Bank raised its stake in PTC by 0.7% during the second quarter. Amalgamated Bank now owns 25,128 shares of the technology company’s stock worth $4,565,000 after purchasing an additional 164 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Trading Down 1.8 %

Shares of NASDAQ PTC opened at $175.90 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $21.13 billion, a PE ratio of 73.60, a PEG ratio of 3.24 and a beta of 1.18. PTC Inc. has a twelve month low of $134.61 and a twelve month high of $194.24. The stock has a fifty day simple moving average of $174.25 and a 200-day simple moving average of $178.58.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $518.64 million during the quarter, compared to the consensus estimate of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. On average, equities analysts forecast that PTC Inc. will post 3.52 earnings per share for the current year.

Insider Activity at PTC

In other PTC news, Director Robert Schechter sold 5,000 shares of the 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 approximately $10,237,855.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Robert Schechter sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total transaction of $858,650.00. Following the completion of the transaction, the director now directly owns 59,616 shares of the company’s stock, valued at approximately $10,237,855.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Janice Chaffin sold 4,000 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $179.33, for a total value of $717,320.00. Following the completion of the sale, the director now directly owns 48,137 shares in the company, valued at approximately $8,632,408.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,000 shares of company stock worth $2,431,330. Corporate insiders own 1.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $202.00 price target on shares of PTC in a research note on Thursday, August 1st. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Rosenblatt Securities lifted their target price on PTC from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Mizuho reaffirmed a “neutral” rating and issued a $190.00 price target (down previously from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Finally, Piper Sandler raised their price objective on PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.18.

About PTC

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.