Perpetual Ltd Lowers Holdings in PTC Inc. (NASDAQ:PTC)

Perpetual Ltd reduced its stake in shares of PTC Inc. (NASDAQ:PTC) by 12.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 425,842 shares of the technology company’s stock after selling 62,956 shares during the quarter. Perpetual Ltd’s holdings in PTC were worth $78,300,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in shares of PTC by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 467,702 shares of the technology company’s stock valued at $84,968,000 after purchasing an additional 26,422 shares in the last quarter. Bridges Investment Management Inc. acquired a new stake in shares of PTC during the 2nd quarter valued at about $252,000. Sei Investments Co. increased its stake in shares of PTC by 5.9% in the 2nd quarter. Sei Investments Co. now owns 42,521 shares of the technology company’s stock valued at $7,725,000 after purchasing an additional 2,379 shares in the last quarter. Summit Trail Advisors LLC acquired a new position in PTC in the 2nd quarter worth about $221,000. Finally, Profund Advisors LLC boosted its position in PTC by 6.9% during the second quarter. Profund Advisors LLC now owns 2,495 shares of the technology company’s stock worth $453,000 after purchasing an additional 161 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Price Performance

PTC stock opened at $187.79 on Tuesday. PTC Inc. has a 1 year low of $163.30 and a 1 year high of $203.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $22.60 billion, a PE ratio of 60.38, a price-to-earnings-growth ratio of 2.55 and a beta of 1.18. The business has a 50 day simple moving average of $191.52 and a 200-day simple moving average of $182.97.

Insiders Place Their Bets

In related news, Director Corinna Lathan sold 860 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.00, for a total value of $172,000.00. Following the sale, the director now directly owns 6,843 shares in the company, valued at approximately $1,368,600. The trade was a 11.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the transaction, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,242 shares of company stock valued at $3,630,716. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PTC. Robert W. Baird boosted their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada boosted their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and decreased their price target for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $207.54.

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.