PTC Inc. (NASDAQ:PTC) Short Interest Down 26.7% in January

PTC Inc. (NASDAQ:PTC) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 1,760,000 shares, a decrease of 26.7% from the January 15th total of 2,400,000 shares. Based on an average trading volume of 932,100 shares, the short-interest ratio is presently 1.9 days.

Analysts Set New Price Targets

Several research firms have weighed in on PTC. Royal Bank of Canada increased their target price on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird increased their price target on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and lowered their price target for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Rosenblatt Securities restated a “buy” rating and issued a $204.00 price target on shares of PTC in a report on Tuesday, February 4th. Finally, Stifel Nicolaus increased their price objective on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Stock Performance

Shares of PTC traded up $3.17 during mid-day trading on Friday, reaching $171.10. The company’s stock had a trading volume of 1,445,065 shares, compared to its average volume of 1,040,106. PTC has a 1-year low of $163.30 and a 1-year high of $203.09. The stock has a market cap of $20.59 billion, a P/E ratio of 52.81, a PEG ratio of 2.33 and a beta of 1.19. The business has a 50-day simple moving average of $186.10 and a two-hundred day simple moving average of $183.40. The company has a current ratio of 1.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.48.

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

Insider Buying and Selling at PTC

In other news, EVP Staats Aaron C. Von sold 5,373 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares in the company, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Alice Christenson sold 1,703 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the sale, the chief accounting officer now owns 830 shares in the company, valued at $160,356. The trade was a 67.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock worth $3,630,716 over the last three months. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On PTC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTC. T. Rowe Price Investment Management Inc. increased its stake in shares of PTC by 11.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company’s stock valued at $3,174,432,000 after purchasing an additional 1,773,653 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of PTC in the 4th quarter valued at $146,712,000. Norges Bank bought a new position in shares of PTC in the 4th quarter valued at $128,852,000. Fernbridge Capital Management LP increased its stake in shares of 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 purchasing an additional 650,990 shares during the last quarter. Finally, Congress Asset Management Co. increased its stake in shares of PTC by 767.8% in the 3rd 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. 95.14% of the stock is owned by institutional investors and hedge funds.

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.