State of Wisconsin Investment Board Sells 97,533 Shares of PTC Inc. (PTC)

State of Wisconsin Investment Board lessened its holdings in PTC Inc. (NASDAQ:PTC) by 47.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 108,795 shares of the technology company’s stock after selling 97,533 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.09% of PTC worth $6,123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas boosted its stake in shares of PTC by 0.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 9,250 shares of the technology company’s stock valued at $510,000 after purchasing an additional 54 shares during the last quarter. Advisor Group Inc. raised its position in shares of PTC by 7.4% in the 2nd quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock valued at $150,000 after acquiring an additional 186 shares during the period. Utah Retirement Systems raised its position in shares of PTC by 1.0% in the 2nd quarter. Utah Retirement Systems now owns 21,000 shares of the technology company’s stock valued at $1,158,000 after acquiring an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PTC by 6.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,092 shares of the technology company’s stock valued at $226,000 after acquiring an additional 247 shares during the period. Finally, Campbell Newman Asset Management Inc. raised its position in shares of PTC by 4.8% in the 2nd quarter. Campbell Newman Asset Management Inc. now owns 5,860 shares of the technology company’s stock valued at $323,000 after acquiring an additional 267 shares during the period. 97.99% of the stock is currently owned by institutional investors.

A number of brokerages recently weighed in on PTC. Evercore ISI set a $65.00 price target on shares of PTC and gave the company a “buy” rating in a research report on Thursday, October 19th. BidaskClub downgraded shares of PTC from a “hold” rating to a “sell” rating in a research report on Monday, September 18th. Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 price target on shares of PTC in a research report on Monday, September 4th. Bank of America Corporation began coverage on shares of PTC in a research report on Monday, November 6th. They issued an “underperform” rating and a $60.00 price target on the stock. Finally, Berenberg Bank assumed coverage on shares of PTC in a research report on Wednesday, August 23rd. They issued a “buy” rating and a $66.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. PTC currently has a consensus rating of “Buy” and a consensus price target of $65.88.

In related news, VP Staats Aaron C. Von sold 9,947 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $64.67, for a total value of $643,272.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James E. Heppelmann sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $64.58, for a total transaction of $1,614,500.00. The disclosure for this sale can be found here. Insiders sold 44,995 shares of company stock worth $2,914,187 over the last quarter. 1.02% of the stock is owned by corporate insiders.

Shares of PTC Inc. (NASDAQ PTC) opened at $65.12 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 0.80. PTC Inc. has a fifty-two week low of $45.57 and a fifty-two week high of $67.12. The stock has a market cap of $7,530.00, a P/E ratio of 110.37 and a beta of 1.36.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.02). PTC had a net margin of 0.54% and a return on equity of 8.08%. The business had revenue of $306.38 million during the quarter, compared to analyst estimates of $306.59 million. During the same quarter last year, the business earned $0.20 earnings per share. PTC’s revenue for the quarter was up 6.3% on a year-over-year basis. sell-side analysts predict that PTC Inc. will post 0.81 EPS for the current fiscal year.

PTC declared that its board has authorized a stock repurchase plan on Tuesday, September 19th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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PTC Company Profile

PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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