New York State Common Retirement Fund Has $42.02 Million Stake in PTC Inc. (NASDAQ:PTC)

Posted by on Apr 14th, 2023

New York State Common Retirement Fund decreased its stake in PTC Inc. (NASDAQ:PTC – Get Rating) by 15.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 350,046 shares of the technology company’s stock after selling 62,954 shares during the quarter. New York State Common Retirement Fund owned 0.30% of PTC worth $42,020,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in PTC by 1.2% in the third quarter. Vanguard Group Inc. now owns 12,097,561 shares of the technology company’s stock valued at $1,265,405,000 after buying an additional 143,827 shares during the period. BlackRock Inc. lifted its stake in PTC by 4.3% in the third quarter. BlackRock Inc. now owns 8,736,220 shares of the technology company’s stock valued at $913,806,000 after buying an additional 358,134 shares during the period. Pictet Asset Management SA lifted its stake in PTC by 3.8% in the third quarter. Pictet Asset Management SA now owns 4,409,684 shares of the technology company’s stock valued at $461,380,000 after buying an additional 161,700 shares during the period. State Street Corp increased its holdings in shares of PTC by 0.8% in the third quarter. State Street Corp now owns 4,058,371 shares of the technology company’s stock worth $424,506,000 after acquiring an additional 31,252 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of PTC by 1.6% in the first quarter. Invesco Ltd. now owns 2,576,733 shares of the technology company’s stock worth $277,566,000 after acquiring an additional 41,474 shares in the last quarter. Institutional investors and hedge funds own 86.79% of the company’s stock.

Insider Buying and Selling at PTC

In other PTC news, Director Blake D. Moret sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $125.16, for a total value of $2,503,200.00. Following the completion of the transaction, the director now directly owns 7,035,832 shares in the company, valued at $880,604,733.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Michael Ditullio sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $130.63, for a total value of $261,260.00. Following the completion of the sale, the insider now directly owns 63,250 shares of the company’s stock, valued at $8,262,347.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Blake D. Moret sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $125.16, for a total value of $2,503,200.00. Following the completion of the sale, the director now directly owns 7,035,832 shares of the company’s stock, valued at $880,604,733.12. The disclosure for this sale can be found here. Insiders sold a total of 321,479 shares of company stock worth $40,825,493 over the last ninety days. 8.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PTC shares. Robert W. Baird increased their price target on PTC from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, January 26th. Rosenblatt Securities increased their price target on PTC from $142.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, February 2nd. Berenberg Bank started coverage on PTC in a report on Wednesday, January 11th. They issued a “buy” rating and a $155.00 price target for the company. Loop Capital increased their price target on PTC from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 2nd. Finally, Barclays increased their price target on PTC from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $154.55.

PTC Stock Up 1.6 %

PTC stock opened at $128.46 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average price of $125.97 and a two-hundred day moving average price of $123.00. The company has a market cap of $15.19 billion, a price-to-earnings ratio of 44.45, a P/E/G ratio of 2.80 and a beta of 1.19. PTC Inc. has a twelve month low of $96.55 and a twelve month high of $139.91.

PTC (NASDAQ:PTC – Get Rating) last posted its quarterly earnings results on Wednesday, February 1st. The technology company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.01). The company had revenue of $465.91 million during the quarter, compared to the consensus estimate of $464.43 million. PTC had a net margin of 17.62% and a return on equity of 18.20%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. Analysts anticipate that PTC Inc. will post 3.01 EPS for the current fiscal year.

PTC Company Profile

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PTC, Inc is a global software company, which engages in the provision of portfolio of innovative digital solutions that work together to transform how physical products are engineered, manufactured, and serviced. It operates through the Software Products and Professional Services segments. The Software Products segment includes license, subscription, and related support revenue for its products.

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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