Voya Investment Management LLC Cuts Stake in PTC Inc. $PTC

Voya Investment Management LLC decreased its stake in PTC Inc. (NASDAQ:PTC) by 31.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,770 shares of the technology company’s stock after selling 11,868 shares during the period. Voya Investment Management LLC’s holdings in PTC were worth $5,232,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. RDA Financial Network acquired a new position in PTC during the 3rd quarter worth approximately $304,000. Czech National Bank raised its stake in shares of PTC by 3.8% during the third quarter. Czech National Bank now owns 30,425 shares of the technology company’s stock valued at $6,177,000 after purchasing an additional 1,106 shares during the period. Balefire LLC acquired a new position in shares of PTC during the third quarter worth $200,000. Silverberg Bernstein Capital Management LLC lifted its position in shares of PTC by 8.4% during the third quarter. Silverberg Bernstein Capital Management LLC now owns 69,766 shares of the technology company’s stock worth $14,164,000 after purchasing an additional 5,378 shares in the last quarter. Finally, Aaron Wealth Advisors LLC purchased a new position in shares of PTC in the third quarter valued at $326,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Stock Performance

Shares of PTC stock opened at $176.47 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.12. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $219.69. The firm’s 50-day simple moving average is $182.29 and its 200-day simple moving average is $192.27. The firm has a market cap of $20.99 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.94 and a beta of 1.03.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Friday, November 21st. The technology company reported $2.10 earnings per share for the quarter. PTC had a return on equity of 23.03% and a net margin of 27.05%.The firm had revenue of $1.76 billion during the quarter. Equities analysts forecast that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Buying and Selling at PTC

In other PTC news, EVP Kristian Talvitie sold 50,291 shares of PTC stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total value of $8,707,383.74. Following the completion of the transaction, the executive vice president owned 12,386 shares of the company’s stock, valued at $2,144,512.04. The trade was a 80.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Staats Aaron C. Von sold 6,328 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the sale, the executive vice president directly owned 22,461 shares in the company, valued at $3,925,958.19. This trade represents a 21.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 61,277 shares of company stock worth $10,624,076 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PTC has been the topic of several analyst reports. Zacks Research downgraded shares of PTC from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Rosenblatt Securities lowered their target price on PTC from $227.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Piper Sandler dropped their target price on PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. BMO Capital Markets reduced their price target on PTC from $231.00 to $219.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Finally, Robert W. Baird set a $255.00 price objective on PTC in a research note on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.92.

PTC Company Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.