Truist Financial Corp Trims Stake in PTC Inc. (NASDAQ:PTC)

Truist Financial Corp reduced its holdings in shares of PTC Inc. (NASDAQ:PTC) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,072 shares of the technology company’s stock after selling 12,974 shares during the period. Truist Financial Corp owned about 0.06% of PTC worth $13,135,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. increased its stake in shares of PTC by 2.0% in the third quarter. Asset Management One Co. Ltd. now owns 46,387 shares of the technology company’s stock worth $6,572,000 after purchasing an additional 919 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of PTC by 14.0% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 43,988 shares of the technology company’s stock worth $6,232,000 after purchasing an additional 5,400 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its stake in shares of PTC by 9.0% in the third quarter. Chevy Chase Trust Holdings LLC now owns 66,798 shares of the technology company’s stock worth $9,464,000 after purchasing an additional 5,521 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of PTC by 23.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,221 shares of the technology company’s stock worth $881,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of PTC by 2.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 41,765 shares of the technology company’s stock worth $5,917,000 after purchasing an additional 1,112 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PTC shares. Oppenheimer increased their price objective on shares of PTC from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $202.00 price objective on shares of PTC in a research note on Thursday, February 1st. KeyCorp upped their target price on shares of PTC from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Mizuho upped their target price on shares of PTC from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Rosenblatt Securities restated a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, PTC has an average rating of “Moderate Buy” and an average target price of $202.40.

PTC Price Performance

PTC stock opened at $174.96 on Thursday. PTC Inc. has a 52 week low of $124.42 and a 52 week high of $194.24. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.80. The company has a fifty day simple moving average of $183.57 and a two-hundred day simple moving average of $170.96. The firm has a market capitalization of $20.92 billion, a P/E ratio of 88.81, a price-to-earnings-growth ratio of 3.17 and a beta of 1.19.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. PTC had a net margin of 10.86% and a return on equity of 12.87%. The business had revenue of $550.21 million during the quarter, compared to analyst estimates of $538.59 million. Analysts anticipate that PTC Inc. will post 3.47 earnings per share for the current fiscal year.

Insider Buying and Selling at PTC

In other PTC news, insider Catherine Kniker sold 1,330 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the transaction, the insider now owns 13,864 shares in the company, valued at $2,489,835.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the sale, the chief executive officer now owns 968,357 shares in the company, valued at approximately $171,631,594.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Catherine Kniker sold 1,330 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the sale, the insider now owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. 1.17% of the stock is 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.