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

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

PTC Trading Up 1.9 %

Shares of PTC stock traded up $3.17 on Friday, hitting $171.10. The company had a trading volume of 1,445,065 shares, compared to its average volume of 1,040,106. 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 50-day moving average is $186.10 and its two-hundred day moving average is $183.40. The firm has a market cap of $20.59 billion, a P/E ratio of 52.81, a P/E/G ratio of 2.33 and a beta of 1.19.

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

Analysts Set New Price Targets

A number of brokerages recently commented on PTC. Stifel Nicolaus upped their target price on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Robert W. Baird raised their target price on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. KeyCorp lifted their price objective on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. lifted their target price on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Finally, Piper Sandler boosted their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Insiders Place Their Bets

In other PTC news, CFO Kristian Talvitie sold 10,306 shares of PTC stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the transaction, the chief financial officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly 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. In the last quarter, insiders have sold 18,242 shares of company stock worth $3,630,716. Company insiders own 0.32% of the company’s stock.

Institutional Trading of PTC

A number of large investors have recently bought and sold shares of PTC. Aster Capital Management DIFC Ltd purchased a new stake in PTC in the fourth quarter worth $30,000. Covestor Ltd increased its position in PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after buying an additional 80 shares during the last quarter. Allworth Financial LP increased its position in PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after buying an additional 69 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in PTC in the fourth quarter worth $51,000. Finally, Assetmark Inc. increased its position in PTC by 825.0% in the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock worth $61,000 after buying an additional 297 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other 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.