State of New Jersey Common Pension Fund D Cuts Stock Position in PTC Inc. (NASDAQ:PTC)

State of New Jersey Common Pension Fund D lowered its position in PTC Inc. (NASDAQ:PTC) by 34.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,489 shares of the technology company’s stock after selling 21,208 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PTC were worth $7,356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC grew its position in shares of PTC by 180.8% in the 1st quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock worth $5,115,000 after buying an additional 17,430 shares during the last quarter. Portfolio Design Labs LLC acquired a new stake in PTC in the 4th quarter worth approximately $4,316,000. Norges Bank acquired a new stake in PTC in the 4th quarter worth approximately $114,043,000. Swedbank AB acquired a new stake in PTC in the 1st quarter worth approximately $9,849,000. Finally, BNP Paribas Financial Markets boosted its stake in PTC by 133.1% in the 1st quarter. BNP Paribas Financial Markets now owns 122,819 shares of the technology company’s stock worth $23,205,000 after purchasing an additional 70,131 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 target price on shares of PTC in a research note on Thursday, August 1st. Rosenblatt Securities lifted their target price on shares of PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Mizuho reiterated a “neutral” rating and issued a $190.00 target price (down from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Finally, Piper Sandler lifted their price objective on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.18.

PTC Price Performance

NASDAQ:PTC opened at $172.23 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $20.69 billion, a price-to-earnings ratio of 72.06, a price-to-earnings-growth ratio of 3.14 and a beta of 1.18. The company has a 50 day moving average price of $174.74 and a 200-day moving average price of $178.83. PTC Inc. has a 1-year low of $134.61 and a 1-year high of $194.24.

PTC (NASDAQ:PTC) last posted 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 firm had revenue of $518.64 million during the quarter, compared to analyst estimates of $533.04 million. PTC had a net margin of 13.32% and a return on equity of 13.36%. Equities research analysts forecast that PTC Inc. will post 3.52 EPS for the current year.

Insider Activity

In other news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $179.33, for a total transaction of $717,320.00. Following the completion of the transaction, the director now directly owns 48,137 shares of the company’s stock, valued at approximately $8,632,408.21. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction on 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 owns 48,137 shares of the company’s stock, valued at approximately $8,632,408.21. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the sale, the executive vice president now directly owns 13,902 shares of the company’s stock, valued at approximately $2,363,340. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock valued at $2,431,330 in the last three months. 1.17% of the stock is currently owned by corporate insiders.

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.