Louisiana State Employees Retirement System Sells 300 Shares of PTC Inc. (NASDAQ:PTC)

Louisiana State Employees Retirement System reduced its stake in shares of PTC Inc. (NASDAQ:PTC) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,500 shares of the technology company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in PTC were worth $1,195,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Covestor Ltd increased its holdings in PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after buying an additional 80 shares in the last quarter. Brooklyn Investment Group purchased a new stake in PTC in the 3rd quarter valued at about $66,000. Blue Trust Inc. lifted its stake in PTC by 473.9% during the 3rd quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock worth $144,000 after acquiring an additional 654 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of PTC in the third quarter valued at $152,000. Finally, Signaturefd LLC raised its holdings in shares of PTC by 9.3% in the 3rd quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock valued at $162,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PTC. Citigroup lowered their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Piper Sandler upped their price target on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird raised their price objective on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Stifel Nicolaus lifted their price target on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $210.09.

Insider Activity

In other news, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at $160,356. This trade represents a 67.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the transaction, the director now directly owns 6,843 shares in the company, valued at $1,368,600. This represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,242 shares of company stock valued at $3,630,716 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

PTC Stock Performance

Shares of PTC stock opened at $171.10 on Monday. PTC Inc. has a 52-week low of $163.30 and a 52-week high of $203.09. The stock’s 50-day moving average price is $186.10 and its 200 day moving average price is $183.44. The company has a quick ratio of 0.78, a current ratio of 1.23 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $20.59 billion, a PE ratio of 52.81, a price-to-earnings-growth ratio of 2.33 and a beta of 1.19.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. As a group, equities research analysts forecast that PTC Inc. will post 4.62 EPS for the current year.

PTC 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.