State Treasurer State of Michigan Sells 4,200 Shares of PTC Inc. (PTC)

State Treasurer State of Michigan trimmed its stake in shares of PTC Inc. (NASDAQ:PTC) by 8.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,439 shares of the technology company’s stock after selling 4,200 shares during the period. State Treasurer State of Michigan’s holdings in PTC were worth $2,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas increased its holdings in shares of PTC by 0.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 9,250 shares of the technology company’s stock valued at $510,000 after acquiring an additional 54 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of PTC by 7.4% during the 2nd quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock valued at $150,000 after acquiring an additional 186 shares during the last quarter. Utah Retirement Systems increased its holdings in shares of PTC by 1.0% during the 2nd quarter. Utah Retirement Systems now owns 21,000 shares of the technology company’s stock valued at $1,158,000 after acquiring an additional 200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PTC by 6.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,092 shares of the technology company’s stock valued at $226,000 after acquiring an additional 247 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. increased its holdings in shares of PTC by 4.8% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 5,860 shares of the technology company’s stock valued at $323,000 after acquiring an additional 267 shares during the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on PTC. Bank of America Corporation began coverage on PTC in a research note on Monday, November 6th. They set an “underperform” rating and a $60.00 target price for the company. Royal Bank Of Canada restated a “buy” rating and set a $74.00 target price on shares of PTC in a research note on Friday, October 27th. Barclays PLC increased their target price on PTC from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. KeyCorp reiterated a “buy” rating and issued a $74.00 price objective (up previously from $64.00) on shares of PTC in a research report on Thursday, October 26th. Finally, Evercore ISI set a $75.00 target price on PTC and gave the stock a “buy” rating in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $65.59.

PTC Inc. (PTC) opened at $64.79 on Friday. PTC Inc. has a 12-month low of $45.57 and a 12-month high of $67.12. The company has a current ratio of 1.05, a quick ratio of 0.94 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $7,475.18, a P/E ratio of 109.59 and a beta of 1.37.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, October 25th. The technology company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $306.38 million during the quarter, compared to analyst estimates of $306.59 million. PTC had a net margin of 0.54% and a return on equity of 8.08%. PTC’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. equities analysts forecast that PTC Inc. will post 0.81 EPS for the current year.

PTC declared that its board has approved a stock buyback program on Tuesday, September 19th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

In other news, Director Paul A. Lacy sold 4,000 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $65.81, for a total transaction of $263,240.00. Following the completion of the transaction, the director now directly owns 61,486 shares in the company, valued at $4,046,393.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Schechter sold 1,128 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $66.88, for a total value of $75,440.64. Following the completion of the sale, the director now owns 64,826 shares of the company’s stock, valued at $4,335,562.88. The disclosure for this sale can be found here. Insiders own 1.11% of the company’s stock.

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PTC Company Profile

PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.

Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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