Perpetual Ltd Trims Stake in PTC Inc. (NASDAQ:PTC)

Perpetual Ltd lessened its holdings in shares of PTC Inc. (NASDAQ:PTC) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 425,842 shares of the technology company’s stock after selling 62,956 shares during the period. Perpetual Ltd owned about 0.35% of PTC worth $78,300,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Wedmont Private Capital grew its stake in PTC by 1.6% in the fourth quarter. Wedmont Private Capital now owns 4,026 shares of the technology company’s stock worth $734,000 after purchasing an additional 64 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of PTC by 0.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock worth $4,690,000 after buying an additional 66 shares during the period. Metis Global Partners LLC grew its position in shares of PTC by 1.1% during the 3rd quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company’s stock worth $1,202,000 after buying an additional 73 shares in the last quarter. Signaturefd LLC increased its stake in shares of PTC by 9.3% during the third quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock valued at $162,000 after buying an additional 76 shares during the period. Finally, Equitable Trust Co. raised its holdings in shares of PTC by 2.2% in the third quarter. Equitable Trust Co. now owns 3,602 shares of the technology company’s stock valued at $651,000 after acquiring an additional 79 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Analysts Set New Price Targets

PTC has been the topic of a number of research reports. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and cut their target price for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Stifel Nicolaus lifted their price objective on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Piper Sandler lifted their price target on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada upped their price objective on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.54.

Insider Transactions at PTC

In related news, CFO Kristian Talvitie sold 10,306 shares of PTC stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the completion of the sale, the chief financial officer now owns 57,134 shares of the company’s stock, valued at $11,389,091.56. The trade was a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the transaction, the chief accounting officer now owns 830 shares in the company, valued at approximately $160,356. This trade represents a 67.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,242 shares of company stock worth $3,630,716. Company insiders own 0.32% of the company’s stock.

PTC Stock Up 0.4 %

NASDAQ:PTC opened at $187.79 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a twelve month low of $163.30 and a twelve month high of $203.09. The company has a market cap of $22.60 billion, a PE ratio of 60.38, a P/E/G ratio of 2.55 and a beta of 1.18. The company’s 50 day moving average is $191.52 and its two-hundred day moving average is $182.97.

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.