PTC Inc. (NASDAQ:PTC) Short Interest Update

PTC Inc. (NASDAQ:PTC) was the target of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 2,110,000 shares, a decrease of 17.3% from the October 31st total of 2,550,000 shares. Based on an average daily trading volume, of 785,700 shares, the days-to-cover ratio is presently 2.7 days.

Insider Activity at PTC

In other PTC news, Director Corinna Lathan sold 860 shares of PTC stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the transaction, the director now owns 6,843 shares of the company’s stock, valued at $1,368,600. This trade represents a 11.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the transaction, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at approximately $160,356. This represents a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC

A number of large investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its position in PTC by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock valued at $1,865,000 after acquiring an additional 61 shares during the period. Diversified Trust Co increased its holdings in shares of PTC by 2.9% during the second quarter. Diversified Trust Co now owns 2,193 shares of the technology company’s stock valued at $398,000 after acquiring an additional 62 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after purchasing an additional 62 shares during the last quarter. IFM Investors Pty Ltd increased its stake in PTC by 0.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock valued at $4,690,000 after purchasing an additional 66 shares in the last quarter. Finally, Metis Global Partners LLC lifted its stake in shares of PTC by 1.1% in the third quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company’s stock worth $1,202,000 after buying an additional 73 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PTC has been the subject of several research reports. Robert W. Baird increased their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Royal Bank of Canada raised their price target on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Piper Sandler raised their price objective on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.83.

PTC Price Performance

PTC stock opened at $200.06 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $24.03 billion, a price-to-earnings ratio of 64.33, a PEG ratio of 2.71 and a beta of 1.17. PTC has a 12-month low of $154.73 and a 12-month high of $201.66. The firm’s 50-day moving average price is $186.73 and its two-hundred day moving average price is $179.96.

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.