Kentucky Retirement Systems Decreases Stock Holdings in PTC Inc. (NASDAQ:PTC)

Kentucky Retirement Systems lowered its stake in shares of PTC Inc. (NASDAQ:PTC) by 7.2% during the third quarter, Holdings Channel reports. The firm owned 8,369 shares of the technology company’s stock after selling 654 shares during the period. Kentucky Retirement Systems’ holdings in PTC were worth $1,512,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Janney Montgomery Scott LLC acquired a new stake in shares of PTC in the 1st quarter valued at about $215,000. Acadian Asset Management LLC lifted its position in PTC by 74.7% during the 1st quarter. Acadian Asset Management LLC now owns 2,047 shares of the technology company’s stock worth $385,000 after acquiring an additional 875 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in PTC by 22.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,449 shares of the technology company’s stock valued at $841,000 after purchasing an additional 826 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of PTC in the first quarter valued at about $28,510,000. Finally, Bessemer Group Inc. boosted its position in PTC by 19.3% during the first quarter. Bessemer Group Inc. now owns 2,663 shares of the technology company’s stock worth $504,000 after purchasing an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PTC shares. Robert W. Baird upped their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and cut their price target for the company from $210.00 to $196.00 in a report on Friday, November 1st. Piper Sandler raised their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Finally, Royal Bank of Canada upped their price target on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $204.83.

PTC Stock Performance

NASDAQ:PTC opened at $189.26 on Tuesday. The firm’s fifty day simple moving average is $182.14 and its 200 day simple moving average is $178.76. The firm has a market capitalization of $22.74 billion, a price-to-earnings ratio of 60.86, a PEG ratio of 2.57 and a beta of 1.17. PTC Inc. has a twelve month low of $152.68 and a twelve month high of $199.48. The company has a current ratio of 1.45, a quick ratio of 0.70 and a debt-to-equity ratio of 0.54.

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.