Pacer Advisors Inc. lowered its stake in PTC Inc. (NASDAQ:PTC – Free Report) by 36.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 123,641 shares of the technology company’s stock after selling 72,255 shares during the quarter. Pacer Advisors Inc.’s holdings in PTC were worth $21,539,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in PTC. Elyxium Wealth LLC bought a new position in shares of PTC in the fourth quarter worth approximately $27,000. Palladiem LLC bought a new stake in PTC during the 4th quarter valued at $28,000. DV Equities LLC bought a new stake in PTC during the 4th quarter valued at $29,000. Board of the Pension Protection Fund purchased a new stake in PTC during the 4th quarter valued at $35,000. Finally, Rakuten Securities Inc. boosted its position in PTC by 2,725.0% during the 4th quarter. Rakuten Securities Inc. now owns 226 shares of the technology company’s stock valued at $39,000 after buying an additional 218 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.
PTC Stock Performance
Shares of PTC stock opened at $114.75 on Friday. The firm has a market capitalization of $13.25 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 1.68 and a beta of 0.97. The stock has a fifty day moving average of $136.92 and a 200 day moving average of $153.08. PTC Inc. has a 52 week low of $108.50 and a 52 week high of $219.69. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.30.
Insider Buying and Selling at PTC
In related news, CAO Alice Christenson sold 816 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $145.82, for a total transaction of $118,989.12. Following the transaction, the chief accounting officer owned 1,265 shares in the company, valued at $184,462.30. The trade was a 39.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.
Wall Street Analysts Forecast Growth
PTC has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Sunday, May 31st. Robert W. Baird set a $198.00 target price on shares of PTC in a report on Thursday, May 7th. Mizuho cut their target price on PTC from $180.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, March 23rd. Weiss Ratings downgraded PTC from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $190.00 price target on shares of PTC in a research report on Tuesday, May 5th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.60.
PTC Profile
PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.
Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.
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