American International Group Inc. lessened its position in PTC Inc (NASDAQ:PTC) by 7.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 216,415 shares of the technology company’s stock after selling 16,432 shares during the period. American International Group Inc.’s holdings in PTC were worth $22,981,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PTC. Fort L.P. bought a new stake in PTC in the second quarter valued at approximately $122,000. Qube Research & Technologies Ltd bought a new stake in PTC in the second quarter valued at approximately $134,000. Almanack Investment Partners LLC. bought a new stake in PTC in the second quarter valued at approximately $150,000. Gilder Gagnon Howe & Co. LLC bought a new stake in PTC in the second quarter valued at approximately $186,000. Finally, IBM Retirement Fund bought a new stake in PTC in the second quarter valued at approximately $202,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

PTC has been the subject of several recent analyst reports. Guggenheim initiated coverage on shares of PTC in a research note on Tuesday, August 7th. They issued a “buy” rating and a $115.00 target price for the company. BidaskClub downgraded shares of PTC from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 5th. Zacks Investment Research raised shares of PTC from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Cowen set a $105.00 target price on shares of PTC and gave the company a “buy” rating in a research note on Sunday, October 28th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PTC to $96.00 in a research report on Friday, October 26th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. PTC has a consensus rating of “Buy” and a consensus target price of $98.63.

In related news, CFO Andrew Miller sold 46,524 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $85.44, for a total value of $3,975,010.56. Following the completion of the transaction, the chief financial officer now owns 80,769 shares of the company’s stock, valued at $6,900,903.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Phillip M. Fernandez sold 250 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $102.46, for a total transaction of $25,615.00. Following the completion of the transaction, the director now directly owns 20,912 shares of the company’s stock, valued at approximately $2,142,643.52. The disclosure for this sale can be found here. Insiders have sold 95,787 shares of company stock valued at $8,308,854 in the last three months. 1.19% of the stock is owned by insiders.

Shares of PTC stock opened at $84.72 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 0.74. PTC Inc has a 12-month low of $59.40 and a 12-month high of $107.44. The firm has a market cap of $9.81 billion, a PE ratio of 94.13, a P/E/G ratio of 2.29 and a beta of 1.54.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. PTC had a net margin of 4.19% and a return on equity of 11.97%. The company had revenue of $312.52 million during the quarter, compared to the consensus estimate of $322.00 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, research analysts anticipate that PTC Inc will post 1.11 EPS for the current fiscal year.

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About PTC

PTC Inc develops and delivers software products and solutions worldwide. It operates through three segments: IoT Group, Solutions Group, and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things (IoT) applications and augmented reality (AR) experiences; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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