Bank of New York Mellon Corp Sells 28,261 Shares of PTC Inc. $PTC

Bank of New York Mellon Corp trimmed its holdings in shares of PTC Inc. (NASDAQ:PTC) by 3.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 693,628 shares of the technology company’s stock after selling 28,261 shares during the period. Bank of New York Mellon Corp owned approximately 0.58% of PTC worth $140,820,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in PTC. Root Financial Partners LLC bought a new position in PTC in the third quarter worth approximately $30,000. SJS Investment Consulting Inc. lifted its position in shares of PTC by 2,257.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 165 shares of the technology company’s stock worth $34,000 after buying an additional 158 shares in the last quarter. Versant Capital Management Inc boosted its position in PTC by 37.6% in the third quarter. Versant Capital Management Inc now owns 194 shares of the technology company’s stock worth $39,000 after purchasing an additional 53 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of PTC by 34.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company’s stock worth $46,000 after buying an additional 76 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in PTC by 339.3% in the second quarter. Assetmark Inc. now owns 268 shares of the technology company’s stock valued at $46,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling

In other news, EVP Kristian Talvitie sold 50,291 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total transaction of $8,707,383.74. Following the transaction, the executive vice president directly owned 12,386 shares of the company’s stock, valued at approximately $2,144,512.04. The trade was a 80.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Staats Aaron C. Von sold 6,328 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $174.79, for a total value of $1,106,071.12. Following the transaction, the executive vice president owned 22,461 shares of the company’s stock, valued at approximately $3,925,958.19. This represents a 21.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 61,277 shares of company stock worth $10,624,076. Corporate insiders own 0.29% of the company’s stock.

PTC Price Performance

PTC stock opened at $156.13 on Friday. The stock has a market capitalization of $18.57 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 2.54 and a beta of 1.01. The firm’s 50-day moving average price is $171.68 and its two-hundred day moving average price is $191.04. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $219.69.

PTC (NASDAQ:PTC) last posted its earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share (EPS) for the quarter. PTC had a return on equity of 23.02% and a net margin of 27.05%.The company had revenue of $1.76 billion for the quarter. As a group, equities analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Robert W. Baird set a $255.00 price target on PTC in a research report on Wednesday, October 22nd. BMO Capital Markets lowered their target price on shares of PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $220.00 price target on shares of PTC in a report on Tuesday, January 27th. Citigroup lowered their price objective on shares of PTC from $185.00 to $181.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Piper Sandler dropped their target price on PTC from $200.00 to $175.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and an average target price of $201.77.

PTC 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.