Texas Permanent School Fund Corp Sells 4,411 Shares of PTC Inc. $PTC

Texas Permanent School Fund Corp cut its holdings in PTC Inc. (NASDAQ:PTC) by 34.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,344 shares of the technology company’s stock after selling 4,411 shares during the period. Texas Permanent School Fund Corp’s holdings in PTC were worth $1,438,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. SVB Wealth LLC purchased a new position in shares of PTC in the first quarter worth about $41,000. Assetmark Inc. grew its position in PTC by 339.3% during the 2nd quarter. Assetmark Inc. now owns 268 shares of the technology company’s stock worth $46,000 after acquiring an additional 207 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in PTC by 34.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company’s stock worth $46,000 after purchasing an additional 76 shares during the period. CYBER HORNET ETFs LLC bought a new stake in PTC in the second quarter valued at approximately $53,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of PTC during the second quarter valued at approximately $61,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 6,328 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the completion of the transaction, the executive vice president owned 22,461 shares of the company’s stock, valued at approximately $3,925,958.19. This trade represents a 21.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kristian Talvitie sold 50,291 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total transaction of $8,707,383.74. Following the sale, the executive vice president owned 12,386 shares in the company, valued at approximately $2,144,512.04. This trade represents a 80.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 61,277 shares of company stock valued at $10,624,076. 0.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PTC has been the topic of several analyst reports. Wall Street Zen downgraded shares of PTC from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Zacks Research lowered shares of PTC from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Piper Sandler decreased their price objective on shares of PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Rosenblatt Securities lowered their price objective on shares of PTC from $227.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Finally, Robert W. Baird set a $255.00 target price on shares of PTC in a report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, PTC currently has an average rating of “Moderate Buy” and a consensus target price of $205.92.

PTC Stock Performance

Shares of PTC opened at $176.02 on Wednesday. The company has a 50-day simple moving average of $183.32 and a two-hundred day simple moving average of $192.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.12 and a quick ratio of 1.43. The firm has a market capitalization of $21.03 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 2.99 and a beta of 1.03. PTC Inc. has a one year low of $133.38 and a one year high of $219.69.

PTC (NASDAQ:PTC) last announced its earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share (EPS) for the quarter. The firm had revenue of $1.76 billion during the quarter. PTC had a return on equity of 23.03% and a net margin of 27.05%. On average, analysts anticipate that PTC Inc. will post 4.46 EPS for the current fiscal year.

PTC Company Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.