Kentucky Retirement Systems Trims Position in PTC Inc. (NASDAQ:PTC)

Kentucky Retirement Systems decreased its position in shares of PTC Inc. (NASDAQ:PTC) by 4.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,079 shares of the technology company’s stock after selling 429 shares during the quarter. Kentucky Retirement Systems’ holdings in PTC were worth $1,715,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in PTC by 1.5% during the first quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock worth $2,596,209,000 after purchasing an additional 205,673 shares during the last quarter. Wellington Management Group LLP increased its position in PTC by 1,409.3% during the fourth quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock worth $294,006,000 after purchasing an additional 1,569,081 shares during the last quarter. Franklin Resources Inc. increased its position in PTC by 1.1% during the fourth quarter. Franklin Resources Inc. now owns 1,192,272 shares of the technology company’s stock worth $208,600,000 after purchasing an additional 13,468 shares during the last quarter. Bank of New York Mellon Corp increased its position in PTC by 18.4% during the first quarter. Bank of New York Mellon Corp now owns 1,066,671 shares of the technology company’s stock worth $201,537,000 after purchasing an additional 166,112 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in PTC by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,037,724 shares of the technology company’s stock worth $181,560,000 after purchasing an additional 26,761 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Stock Down 0.0 %

PTC traded down $0.07 during trading hours on Friday, reaching $173.80. 765,251 shares of the stock traded hands, compared to its average volume of 905,203. The firm’s fifty day simple moving average is $178.27 and its two-hundred day simple moving average is $180.09. The company has a market cap of $20.80 billion, a price-to-earnings ratio of 72.72, a PEG ratio of 3.26 and a beta of 1.18. PTC Inc. has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.76 and a quick ratio of 0.76.

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

Insider Activity at PTC

In other PTC news, COO Michael Ditullio sold 6,592 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the transaction, the chief operating officer now directly owns 53,148 shares in the company, valued at approximately $9,734,056.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PTC news, COO Michael Ditullio sold 6,592 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the transaction, the chief operating officer now directly owns 53,148 shares in the company, valued at approximately $9,734,056.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Catherine Kniker sold 1,254 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total transaction of $217,506.30. Following the transaction, the insider now owns 13,598 shares in the company, valued at $2,358,573.10. The disclosure for this sale can be found here. In the last three months, insiders sold 15,846 shares of company stock valued at $2,854,951. Corporate insiders own 1.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PTC shares. Barclays upped their price target on shares of PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Robert W. Baird increased their price objective on shares of PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price objective on shares of PTC in a research report on Friday, April 12th. Finally, Citigroup dropped their price objective 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. Three investment 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 an average rating of “Moderate Buy” and an average price target of $199.73.

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.