PTC Inc. (NASDAQ:PTC) Short Interest Down 17.3% in November

PTC Inc. (NASDAQ:PTC) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 2,110,000 shares, a drop of 17.3% from the October 31st total of 2,550,000 shares. Based on an average trading volume of 785,700 shares, the short-interest ratio is presently 2.7 days.

PTC Price Performance

Shares of PTC stock traded up $1.05 during trading on Friday, reaching $200.06. The company’s stock had a trading volume of 340,023 shares, compared to its average volume of 807,332. The stock has a 50-day moving average price of $186.73 and a two-hundred day moving average price of $179.99. The stock has a market capitalization of $24.03 billion, a P/E ratio of 64.33, a price-to-earnings-growth ratio of 2.69 and a beta of 1.17. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC has a one year low of $154.73 and a one year high of $201.66.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PTC. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 target price on shares of PTC in a research note on Thursday, October 10th. Robert W. Baird increased their price target on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and cut their price objective for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, PTC has an average rating of “Moderate Buy” and an average price target of $204.83.

Insider Activity at PTC

In related news, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction on 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 in the company, valued at $160,356. This trade represents a 67.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Corinna Lathan sold 860 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $200.00, for a total transaction of $172,000.00. Following the transaction, the director now directly owns 6,843 shares of the company’s stock, valued at approximately $1,368,600. This represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. 1.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On PTC

A number of institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its position in PTC by 77.5% in the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after purchasing an additional 62 shares during the period. Blue Trust Inc. raised 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 worth $26,000 after buying an additional 122 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of PTC during the second quarter worth approximately $29,000. International Assets Investment Management LLC acquired a new position in PTC in the second quarter valued at approximately $30,000. Finally, OFI Invest Asset Management bought a new position in PTC in the second quarter valued at approximately $31,000. 95.14% of the stock is owned by institutional investors.

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.