PTC Inc. (NASDAQ:PTC) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System increased its position in shares of PTC Inc. (NASDAQ:PTC) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,754 shares of the technology company’s stock after acquiring an additional 200 shares during the quarter. State of Michigan Retirement System’s holdings in PTC were worth $6,189,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Nova Scotia raised its stake in PTC by 17.0% during the third quarter. Bank of Nova Scotia now owns 13,769 shares of the technology company’s stock worth $1,951,000 after purchasing an additional 1,998 shares during the period. Adage Capital Partners GP L.L.C. grew its position in PTC by 11.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 118,100 shares of the technology company’s stock valued at $16,732,000 after acquiring an additional 12,000 shares during the period. Royal London Asset Management Ltd. increased its stake in PTC by 14.8% during the third quarter. Royal London Asset Management Ltd. now owns 41,434 shares of the technology company’s stock worth $5,872,000 after acquiring an additional 5,333 shares during the last quarter. Baker Avenue Asset Management LP raised its holdings in shares of PTC by 1.2% in the 3rd quarter. Baker Avenue Asset Management LP now owns 19,601 shares of the technology company’s stock worth $2,777,000 after purchasing an additional 224 shares during the period. Finally, Townsquare Capital LLC lifted its stake in shares of PTC by 18.7% in the 3rd quarter. Townsquare Capital LLC now owns 14,589 shares of the technology company’s stock valued at $2,067,000 after purchasing an additional 2,296 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Stock Performance

PTC stock opened at $182.89 on Wednesday. The firm has a market cap of $21.89 billion, a P/E ratio of 76.52, a P/E/G ratio of 3.42 and a beta of 1.18. The stock’s 50 day simple moving average is $178.13 and its 200 day simple moving average is $179.11. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.51. PTC Inc. has a 12-month low of $134.61 and a 12-month high of $194.24.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.23. The company had revenue of $603.07 million for the quarter, compared to analysts’ expectations of $575.53 million. PTC had a return on equity of 13.76% and a net margin of 12.84%. As a group, equities research analysts predict that PTC Inc. will post 3.48 EPS for the current year.

Insider Buying and Selling at PTC

In related news, COO Michael Ditullio sold 6,592 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $183.15, for a total value of $1,207,324.80. Following the completion of the sale, the chief operating officer now owns 53,148 shares of the company’s stock, valued at $9,734,056.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $178.20, for a total value of $712,800.00. Following the sale, the director now owns 52,137 shares of the company’s stock, valued at approximately $9,290,813.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Ditullio sold 6,592 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $183.15, for a total value of $1,207,324.80. Following the transaction, the chief operating officer now directly owns 53,148 shares of the company’s stock, valued at approximately $9,734,056.20. The disclosure for this sale can be found here. Insiders have sold 11,846 shares of company stock valued at $2,137,631 in the last quarter. Corporate insiders own 1.17% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on PTC shares. Barclays raised their price target on shares of PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Citigroup decreased their price target on shares of PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Mizuho reiterated a “neutral” rating and issued a $190.00 price target (down from $200.00) on shares of PTC in a report on Tuesday, June 4th. Rosenblatt Securities restated a “buy” rating and set a $195.00 price objective on shares of PTC in a research note on Friday, April 12th. Finally, StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.73.

PTC Company 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.