Public Employees Retirement System of Ohio Decreases Stock Holdings in PTC Inc. (NASDAQ:PTC)

Public Employees Retirement System of Ohio reduced its position in PTC Inc. (NASDAQ:PTC) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,614 shares of the technology company’s stock after selling 253 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in PTC were worth $8,421,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PTC. Fernbridge Capital Management LP grew its stake in PTC by 83.7% during the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after buying an additional 650,990 shares during the last quarter. Congress Asset Management Co. grew its stake in shares of PTC by 767.8% during the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock worth $119,746,000 after acquiring an additional 586,443 shares during the last quarter. D1 Capital Partners L.P. purchased a new stake in shares of PTC during the third quarter worth about $84,549,000. Massachusetts Financial Services Co. MA increased its holdings in shares of PTC by 66.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock valued at $140,577,000 after acquiring an additional 310,092 shares in the last quarter. Finally, Railway Pension Investments Ltd purchased a new position in shares of PTC in the 2nd quarter valued at approximately $24,416,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities reissued a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Robert W. Baird raised their target price 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 target price on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.67.

Insider Activity at PTC

In other PTC news, EVP Staats Aaron C. Von sold 5,373 shares of PTC 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 completion of the transaction, the executive vice president now owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. The trade was a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Alice Christenson sold 1,703 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock worth $3,630,716 in the last three months. Company insiders own 1.17% of the company’s stock.

PTC Trading Down 0.3 %

Shares of NASDAQ:PTC opened at $201.30 on Friday. The company has a market capitalization of $24.18 billion, a PE ratio of 64.73, a PEG ratio of 2.74 and a beta of 1.16. PTC Inc. has a 12-month low of $163.30 and a 12-month high of $203.09. The business has a 50 day moving average of $190.66 and a two-hundred day moving average of $181.07. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38.

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.