PTC Inc. (NASDAQ:PTC) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its stake in shares of PTC Inc. (NASDAQ:PTC) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,369 shares of the technology company’s stock after selling 654 shares during the period. Kentucky Retirement Systems’ holdings in PTC were worth $1,512,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after purchasing an additional 62 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of PTC in the second quarter worth about $29,000. International Assets Investment Management LLC acquired a new position in PTC during the second quarter worth about $30,000. Finally, OFI Invest Asset Management purchased a new stake in PTC during the 2nd quarter valued at about $31,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Stock Down 0.4 %

PTC stock opened at $189.26 on Tuesday. The firm has a market capitalization of $22.74 billion, a P/E ratio of 60.86, a P/E/G ratio of 2.57 and a beta of 1.17. The stock’s fifty day simple moving average is $182.14 and its 200-day simple moving average is $178.76. PTC Inc. has a twelve month low of $152.68 and a twelve month high of $199.48. The company has a current ratio of 1.45, a quick ratio of 0.70 and a debt-to-equity ratio of 0.54.

Analyst Ratings Changes

Several brokerages have recently weighed in on PTC. Rosenblatt Securities restated a “buy” rating and set a $195.00 target price on shares of PTC in a report on Thursday, October 10th. Robert W. Baird lifted their price target on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Royal Bank of Canada raised their target price on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Berenberg Bank lowered 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. Finally, Piper Sandler boosted their price objective on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $204.83.

PTC Company 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.