Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Position in PTC Inc. (NASDAQ:PTC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of PTC Inc. (NASDAQ:PTC) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 18,577 shares of the technology company’s stock after buying an additional 533 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in PTC were worth $2,644,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PTC. California Public Employees Retirement System boosted its holdings in PTC by 58.2% in the second quarter. California Public Employees Retirement System now owns 622,029 shares of the technology company’s stock valued at $88,515,000 after purchasing an additional 228,828 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in PTC by 8.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 135,954 shares of the technology company’s stock valued at $19,346,000 after purchasing an additional 10,958 shares in the last quarter. Leuthold Group LLC acquired a new position in PTC in the second quarter valued at approximately $491,000. Weil Company Inc. boosted its holdings in PTC by 14.6% in the second quarter. Weil Company Inc. now owns 16,440 shares of the technology company’s stock valued at $2,339,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG acquired a new position in PTC in the second quarter valued at approximately $434,000. 92.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PTC news, Director Corinna Lathan sold 800 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $140.71, for a total value of $112,568.00. Following the completion of the transaction, the director now owns 7,703 shares in the company, valued at $1,083,889.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Michael Ditullio sold 3,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $140.71, for a total value of $422,130.00. Following the completion of the transaction, the chief operating officer now owns 57,764 shares in the company, valued at $8,127,972.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Corinna Lathan sold 800 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $140.71, for a total value of $112,568.00. Following the completion of the transaction, the director now owns 7,703 shares of the company’s stock, valued at approximately $1,083,889.13. The disclosure for this sale can be found here. 8.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PTC. StockNews.com began coverage on PTC in a report on Thursday, October 5th. They issued a “hold” rating for the company. Mizuho increased their price objective on PTC from $170.00 to $180.00 in a report on Friday, July 28th. Rosenblatt Securities increased their price objective on PTC from $148.00 to $159.00 in a report on Thursday, July 27th. Piper Sandler reissued a “neutral” rating and issued a $155.00 price objective (up from $150.00) on shares of PTC in a report on Thursday, November 2nd. Finally, Oppenheimer raised PTC from a “market perform” rating to an “outperform” rating and set a $165.00 price objective for the company in a report on Monday, October 30th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, PTC has an average rating of “Moderate Buy” and an average target price of $161.62.

PTC Price Performance

PTC stock opened at $155.54 on Tuesday. The business has a 50 day simple moving average of $143.38 and a 200-day simple moving average of $141.38. The stock has a market capitalization of $18.48 billion, a PE ratio of 75.87, a price-to-earnings-growth ratio of 3.16 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.68. PTC Inc. has a 12 month low of $115.44 and a 12 month high of $156.07.

PTC Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers end-to-end capabilities to enable digital transformation; and Vuforia, which enables the creation of AR.