Vestcor Inc Has $881,000 Stock Holdings in PTC Inc. (NASDAQ:PTC)

Vestcor Inc lowered its stake in PTC Inc. (NASDAQ:PTC) by 27.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,874 shares of the technology company’s stock after selling 1,808 shares during the quarter. Vestcor Inc’s holdings in PTC were worth $881,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PTC. Fernbridge Capital Management LP raised its stake in PTC by 83.7% in the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after acquiring an additional 650,990 shares during the period. Congress Asset Management Co. increased its holdings in shares of PTC by 767.8% in the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock valued at $119,746,000 after purchasing an additional 586,443 shares during the last quarter. D1 Capital Partners L.P. bought a new position in shares of PTC in the third quarter valued at about $84,549,000. Massachusetts Financial Services Co. MA lifted its stake in shares of PTC by 66.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after buying an additional 310,092 shares during the last quarter. Finally, Railway Pension Investments Ltd acquired a new position in PTC in the 2nd quarter valued at about $24,416,000. Institutional investors own 95.14% of the company’s stock.

Insider Activity

In other news, CFO Kristian Talvitie sold 10,306 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 57,134 shares of the company’s stock, valued at $11,389,091.56. The trade was a 15.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the sale, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at $4,344,221.91. This represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,242 shares of company stock valued at $3,630,716. 1.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and cut their price objective for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Piper Sandler lifted their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird boosted their price target on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.67.

PTC Price Performance

Shares of PTC opened at $201.30 on Friday. The stock has a market cap of $24.18 billion, a PE ratio of 64.73, a PEG ratio of 2.74 and a beta of 1.16. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The business has a 50-day simple moving average of $190.66 and a two-hundred day simple moving average of $181.07. PTC Inc. has a 12-month low of $163.30 and a 12-month high of $203.09.

About PTC

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.