PTC Inc. (NASDAQ:PTC) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its stake in PTC Inc. (NASDAQ:PTC) by 14.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 75,072 shares of the technology company’s stock after selling 12,974 shares during the quarter. Truist Financial Corp’s holdings in PTC were worth $13,135,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Trust Asset Management LLC acquired a new position in PTC in the fourth quarter valued at about $215,000. State of New Jersey Common Pension Fund D increased its stake in shares of PTC by 1.6% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 61,697 shares of the technology company’s stock worth $10,795,000 after buying an additional 992 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in PTC by 6.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,199 shares of the technology company’s stock valued at $560,000 after purchasing an additional 185 shares during the last quarter. Alaska Permanent Fund Corp boosted its holdings in shares of PTC by 16.0% in the fourth quarter. Alaska Permanent Fund Corp now owns 25,257 shares of the technology company’s stock valued at $4,419,000 after acquiring an additional 3,489 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of PTC during the fourth quarter worth $124,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $202.00 price target on shares of PTC in a report on Thursday, February 1st. JPMorgan Chase & Co. raised PTC from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $130.00 to $200.00 in a report on Thursday, January 4th. Piper Sandler increased their price target on PTC from $155.00 to $177.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. KeyCorp increased their price target on PTC from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $210.00 price target on shares of PTC in a report on Tuesday, April 2nd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $202.40.

Insider Activity

In other news, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the transaction, the chief executive officer now owns 968,357 shares in the company, valued at $171,631,594.68. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the transaction, the chief executive officer now owns 968,357 shares in the company, valued at $171,631,594.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Catherine Kniker sold 1,330 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $179.59, for a total value of $238,854.70. Following the completion of the transaction, the insider now owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. Company insiders own 1.17% of the company’s stock.

PTC Price Performance

PTC stock opened at $174.96 on Thursday. PTC Inc. has a one year low of $124.42 and a one year high of $194.24. The company has a market cap of $20.92 billion, a P/E ratio of 88.81, a price-to-earnings-growth ratio of 3.17 and a beta of 1.19. The business has a fifty day moving average of $183.57 and a two-hundred day moving average of $170.96. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.19 and a current ratio of 1.19.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. PTC had a return on equity of 12.87% and a net margin of 10.86%. The business had revenue of $550.21 million during the quarter, compared to analysts’ expectations of $538.59 million. As a group, analysts predict that PTC Inc. will post 3.47 earnings per share for the current fiscal year.

PTC Company Profile

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.