Equitable Trust Co. Cuts Stock Position in PTC Inc. (NASDAQ:PTC)

Equitable Trust Co. trimmed its holdings in shares of PTC Inc. (NASDAQ:PTC) by 30.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,488 shares of the technology company’s stock after selling 1,114 shares during the quarter. Equitable Trust Co.’s holdings in PTC were worth $457,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wedmont Private Capital boosted its holdings in PTC by 1.6% in the 4th quarter. Wedmont Private Capital now owns 4,026 shares of the technology company’s stock worth $734,000 after buying an additional 64 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in shares of PTC by 0.3% in the third quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock worth $4,690,000 after acquiring an additional 66 shares during the last quarter. Metis Global Partners LLC increased its position in shares of PTC by 1.1% during the third quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company’s stock worth $1,202,000 after purchasing an additional 73 shares in the last quarter. Signaturefd LLC raised its stake in PTC by 9.3% in the 3rd quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock valued at $162,000 after purchasing an additional 76 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in PTC by 70.8% in the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PTC shares. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and dropped their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Stifel Nicolaus boosted their price target on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Royal Bank of Canada increased their price objective on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Finally, Piper Sandler upped their price target on PTC from $182.00 to $202.00 and gave the company a “neutral” 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. According to data from MarketBeat.com, PTC has an average rating of “Moderate Buy” and a consensus target price of $210.09.

Insiders Place Their Bets

In related news, CFO Kristian Talvitie sold 10,306 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the sale, the chief financial officer now owns 57,134 shares in the company, valued at approximately $11,389,091.56. The trade was a 15.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the transaction, the chief accounting officer now owns 830 shares of the company’s stock, valued at $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock valued at $3,630,716 over the last 90 days. 0.32% of the stock is owned by company insiders.

PTC Trading Down 0.3 %

PTC opened at $167.98 on Wednesday. The business’s 50 day moving average price is $188.70 and its 200 day moving average price is $183.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.78 and a current ratio of 1.23. The stock has a market capitalization of $20.22 billion, a PE ratio of 51.85, a P/E/G ratio of 2.33 and a beta of 1.19. PTC Inc. has a one year low of $163.30 and a one year high of $203.09.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. As a group, equities research analysts expect that PTC Inc. will post 4.62 EPS for the current year.

PTC 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.