Short Interest in PTC Inc. (NASDAQ:PTC) Decreases By 26.7%

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Piper Sandler boosted their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $204.00 price target on shares of PTC in a research report on Tuesday, February 4th. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and cut their price target for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Finally, StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $210.09.

Insider Activity at PTC

In other news, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 21,707 shares in the company, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $160,356. The trade was a 67.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,242 shares of company stock worth $3,630,716 in the last three months. 0.32% of the stock is owned by company insiders.

Institutional Trading of PTC

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of PTC by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock valued at $2,627,961,000 after purchasing an additional 240,080 shares during the period. State Street Corp increased its position in shares of PTC by 2.7% during the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock valued at $917,088,000 after purchasing an additional 133,370 shares during the period. Geode Capital Management LLC increased its position in shares of PTC by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company’s stock valued at $555,626,000 after purchasing an additional 67,504 shares during the period. Fernbridge Capital Management LP increased its position in shares of PTC by 83.7% during 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 period. Finally, Franklin Resources Inc. increased its position in shares of PTC by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after purchasing an additional 30,525 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Stock Down 0.2 %

Shares of PTC stock traded down $0.28 during trading hours on Friday, reaching $167.65. The company had a trading volume of 231,314 shares, compared to its average volume of 1,086,293. The company has a market capitalization of $20.18 billion, a P/E ratio of 51.73, a price-to-earnings-growth ratio of 2.33 and a beta of 1.19. PTC has a twelve month low of $163.30 and a twelve month high of $203.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.78 and a current ratio of 1.23. The stock’s fifty day simple moving average is $186.70 and its 200 day simple moving average is $183.39.

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

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.