State of Alaska Department of Revenue Sells 8,670 Shares of PTC Inc. (NASDAQ:PTC)

State of Alaska Department of Revenue reduced its holdings in shares of PTC Inc. (NASDAQ:PTC) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 79,869 shares of the technology company’s stock after selling 8,670 shares during the period. State of Alaska Department of Revenue’s holdings in PTC were worth $14,428,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its stake in PTC by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock worth $1,865,000 after purchasing an additional 61 shares during the period. Diversified Trust Co raised its holdings in shares of PTC by 2.9% in the 2nd quarter. Diversified Trust Co now owns 2,193 shares of the technology company’s stock worth $398,000 after buying an additional 62 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after buying an additional 62 shares during the period. IFM Investors Pty Ltd boosted its stake in PTC by 0.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock valued at $4,690,000 after buying an additional 66 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in PTC by 5.4% in the 1st quarter. Fidelis Capital Partners LLC now owns 1,454 shares of the technology company’s stock valued at $275,000 after buying an additional 74 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Robert W. Baird increased their target price on shares of PTC from $216.00 to $226.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $202.00 price objective on shares of PTC in a report on Thursday, August 1st. Finally, Piper Sandler lifted their target price on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.09.

Insider Activity at PTC

In other PTC news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the completion of the sale, the director now directly owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Staats Aaron C. Von sold 1,000 shares of PTC stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the sale, the executive vice president now directly owns 13,902 shares of the company’s stock, valued at $2,363,340. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Janice Chaffin sold 4,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the transaction, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,000 shares of company stock worth $1,714,010 over the last 90 days. Insiders own 1.17% of the company’s stock.

PTC Price Performance

PTC opened at $187.01 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $22.47 billion, a P/E ratio of 76.33, a price-to-earnings-growth ratio of 2.69 and a beta of 1.17. The company’s 50 day simple moving average is $177.54 and its 200-day simple moving average is $177.67. PTC Inc. has a one year low of $134.61 and a one year high of $194.24.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $518.64 million for the quarter, compared to analyst estimates of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. Sell-side analysts anticipate that PTC Inc. will post 3.51 earnings per share for the current fiscal year.

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.