New York Life Investment Management LLC Reduces Stock Position in PTC Inc. (NASDAQ:PTC)

New York Life Investment Management LLC reduced its stake in PTC Inc. (NASDAQ:PTC) by 41.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,921 shares of the technology company’s stock after selling 12,076 shares during the period. New York Life Investment Management LLC’s holdings in PTC were worth $2,960,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of PTC by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock valued at $1,965,137,000 after purchasing an additional 859,227 shares in the last quarter. Invesco Ltd. increased its stake in PTC by 5.8% in the 3rd quarter. Invesco Ltd. now owns 2,494,767 shares of the technology company’s stock worth $353,459,000 after acquiring an additional 137,100 shares during the last quarter. FMR LLC raised its holdings in shares of PTC by 6.0% in the 3rd quarter. FMR LLC now owns 1,989,152 shares of the technology company’s stock valued at $281,823,000 after acquiring an additional 113,037 shares in the last quarter. Northern Trust Corp boosted its position in shares of PTC by 15.6% during the 3rd quarter. Northern Trust Corp now owns 1,252,741 shares of the technology company’s stock valued at $177,488,000 after acquiring an additional 168,917 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of PTC by 12.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,010,963 shares of the technology company’s stock worth $143,233,000 after purchasing an additional 109,664 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Stock Performance

NASDAQ:PTC opened at $175.77 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.19 and a current ratio of 1.32. PTC Inc. has a fifty-two week low of $124.42 and a fifty-two week high of $194.24. The business has a 50 day moving average price of $183.30 and a 200-day moving average price of $171.54. The firm has a market cap of $21.01 billion, a PE ratio of 73.54, a price-to-earnings-growth ratio of 3.48 and a beta of 1.19.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PTC shares. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Friday, April 12th. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Royal Bank of Canada restated an “outperform” rating and set a $202.00 price target on shares of PTC in a research report on Thursday, February 1st. Citigroup cut their price objective on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Robert W. Baird raised their price objective on PTC from $210.00 to $216.00 and gave the company an “outperform” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.64.

Insiders Place Their Bets

In other news, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the transaction, the insider now directly owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.17% of the company’s stock.

PTC 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.