Teachers Retirement System of The State of Kentucky Grows Position in PTC Inc. (NASDAQ:PTC)

Teachers Retirement System of The State of Kentucky grew its position in shares of PTC Inc. (NASDAQ:PTC) by 388.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,593 shares of the technology company’s stock after acquiring an additional 37,045 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in PTC were worth $8,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PTC. Blue Trust Inc. grew its stake in shares of PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after buying an additional 122 shares during the last quarter. First Horizon Advisors Inc. increased its stake in PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after purchasing an additional 62 shares in the last quarter. Rothschild Investment LLC purchased a new position in PTC in the second quarter worth about $29,000. International Assets Investment Management LLC bought a new stake in shares of PTC during the second quarter valued at approximately $30,000. Finally, OFI Invest Asset Management bought a new position in PTC in the 2nd quarter valued at approximately $31,000. Institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

PTC has been the topic of a number of recent research reports. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $202.00 price objective on shares of PTC in a research report on Thursday, August 1st. Rosenblatt Securities lifted their price objective on shares of PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Piper Sandler increased their price target on PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.18.

Insider Buying and Selling at PTC

In other news, EVP Staats Aaron C. Von sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value of $170,000.00. Following the completion of the transaction, the executive vice president now directly owns 13,902 shares in the company, valued at $2,363,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Staats Aaron C. Von sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total value of $170,000.00. Following the completion of the sale, the executive vice president now owns 13,902 shares of the company’s stock, valued at $2,363,340. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $179.33, for a total transaction of $717,320.00. Following the completion of the transaction, the director now directly owns 48,137 shares in the company, valued at $8,632,408.21. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock worth $2,431,330 over the last ninety days. Company insiders own 1.17% of the company’s stock.

PTC Price Performance

Shares of NASDAQ PTC opened at $177.91 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $174.27 and its 200 day moving average price is $178.21. PTC Inc. has a 52 week low of $134.61 and a 52 week high of $194.24. The stock has a market cap of $21.37 billion, a price-to-earnings ratio of 74.44, a PEG ratio of 3.40 and a beta of 1.18.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. The business had revenue of $518.64 million for the quarter, compared to analysts’ expectations of $533.04 million. PTC had a net margin of 13.32% and a return on equity of 13.36%. As a group, research analysts forecast that PTC Inc. will post 3.52 earnings per share for the current fiscal 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.