State of Alaska Department of Revenue Has $11.32 Million Stock Holdings in PTC Inc. (NASDAQ:PTC)

State of Alaska Department of Revenue decreased its stake in PTC Inc. (NASDAQ:PTC) by 22.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 61,594 shares of the technology company’s stock after selling 18,275 shares during the quarter. State of Alaska Department of Revenue’s holdings in PTC were worth $11,324,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Covestor Ltd raised its position in PTC by 70.8% during the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after buying an additional 80 shares during the period. Brooklyn Investment Group acquired a new position in PTC in the third quarter worth approximately $66,000. Park Place Capital Corp bought a new position in PTC during the third quarter valued at approximately $67,000. Blue Trust Inc. lifted its stake in PTC by 473.9% in the third quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock valued at $144,000 after acquiring an additional 654 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in PTC in the third quarter worth approximately $152,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Stock Down 9.6 %

PTC opened at $171.61 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $20.65 billion, a price-to-earnings ratio of 55.18, a P/E/G ratio of 2.62 and a beta of 1.19. The business has a 50 day moving average of $190.48 and a 200-day moving average of $183.73. PTC Inc. has a 1-year low of $163.30 and a 1-year high of $203.09.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.37% and a return on equity of 14.63%. As a group, sell-side analysts anticipate that PTC Inc. will post 4.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PTC shares. Citigroup cut their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Wednesday. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and reduced their price target for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Royal Bank of Canada upped their price target on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. KeyCorp raised their price objective on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Robert W. Baird upped their target price on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, PTC presently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

Insiders Place Their Bets

In other news, Director Corinna Lathan sold 860 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the completion of the transaction, the director now directly owns 6,843 shares of the company’s stock, valued at approximately $1,368,600. This trade represents a 11.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the completion of the sale, the executive vice president now directly owns 21,707 shares in the company, valued at approximately $4,344,221.91. The trade was a 19.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,242 shares of company stock worth $3,630,716. 0.32% of the stock is currently owned by company insiders.

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.