Bank of New York Mellon Corp Lowers Position in PTC Inc. (NASDAQ:PTC)

Bank of New York Mellon Corp lessened its holdings in PTC Inc. (NASDAQ:PTC) by 0.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 761,285 shares of the technology company’s stock after selling 3,892 shares during the period. Bank of New York Mellon Corp owned 0.63% of PTC worth $139,978,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Allworth Financial LP lifted its stake in PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares during the last quarter. Covestor Ltd lifted its stake in PTC by 70.8% during the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after purchasing an additional 80 shares during the last quarter. Brooklyn Investment Group bought a new stake in PTC during the third quarter worth about $66,000. Sentry Investment Management LLC bought a new stake in PTC during the fourth quarter worth about $84,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in PTC during the third quarter worth about $152,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Stock Up 0.5 %

Shares of NASDAQ:PTC opened at $163.63 on Friday. PTC Inc. has a 1 year low of $160.53 and a 1 year high of $203.09. The company has a market cap of $19.69 billion, a PE ratio of 50.50, a P/E/G ratio of 2.27 and a beta of 1.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The stock’s 50-day moving average is $179.98 and its 200 day moving average is $182.89.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Sell-side analysts anticipate that PTC Inc. will post 4.46 EPS for the current year.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the transaction, the executive vice president now owns 21,707 shares in the company, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owns 57,134 shares in the company, valued at $11,389,091.56. This trade represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

PTC has been the subject of several research analyst reports. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and dropped their price target for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Robert W. Baird lifted their price target on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price objective on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. KeyCorp lifted their price objective on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 price objective on shares of PTC in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PTC has an average rating of “Moderate Buy” and an average target price 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.