Short Interest in PTC Inc. (NASDAQ:PTC) Declines By 26.7%

PTC Inc. (NASDAQ:PTC) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 1,760,000 shares, a decrease of 26.7% from the January 15th total of 2,400,000 shares. Based on an average trading volume of 932,100 shares, the short-interest ratio is currently 1.9 days.

Insiders Place Their Bets

In related news, CFO Kristian Talvitie sold 10,306 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the transaction, the chief financial officer now directly owns 57,134 shares of the company’s stock, valued at approximately $11,389,091.56. This represents a 15.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Staats Aaron C. Von sold 5,373 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the transaction, the executive vice president now directly owns 21,707 shares in the company, valued at $4,344,221.91. The trade was a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,242 shares of company stock worth $3,630,716. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On PTC

A number of institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its holdings in PTC by 67.7% during the third quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock valued at $2,559,000 after buying an additional 5,717 shares during the period. Mirabella Financial Services LLP increased its holdings in PTC by 542.2% during the third quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock valued at $3,640,000 after buying an additional 17,465 shares during the period. D1 Capital Partners L.P. purchased a new position in PTC during the third quarter valued at approximately $84,549,000. Citigroup Inc. increased its holdings in PTC by 28.4% during the third quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock valued at $26,971,000 after buying an additional 32,984 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after buying an additional 135,677 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Trading Up 1.9 %

NASDAQ PTC traded up $3.17 during trading on Friday, hitting $171.10. The stock had a trading volume of 1,445,065 shares, compared to its average volume of 1,040,106. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 52.81, a P/E/G ratio of 2.33 and a beta of 1.19. The stock has a 50 day simple moving average of $186.10 and a 200 day simple moving average of $183.40. PTC has a one year low of $163.30 and a one year high of $203.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.78 and a current ratio of 1.23.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. Sell-side analysts predict that PTC will post 4.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PTC shares. Stifel Nicolaus upped their price objective on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and dropped their price objective for the company from $210.00 to $196.00 in a report on Friday, November 1st. Citigroup dropped their price objective on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Royal Bank of Canada increased their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $204.00 price target on shares of PTC in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, PTC presently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

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.