Short Interest in PTC Inc. (NASDAQ:PTC) Decreases By 17.3%

PTC Inc. (NASDAQ:PTC) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 2,110,000 shares, a decline of 17.3% from the October 31st total of 2,550,000 shares. Based on an average daily trading volume, of 785,700 shares, the days-to-cover ratio is presently 2.7 days.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PTC shares. Royal Bank of Canada raised their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and reduced their price objective for the company from $210.00 to $196.00 in a research report on Friday, November 1st. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Robert W. Baird raised 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. Finally, Rosenblatt Securities restated a “buy” rating and set a $195.00 price target on shares of PTC in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.83.

Insiders Place Their Bets

In related news, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction 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 owns 830 shares in the company, valued at approximately $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Corinna Lathan sold 860 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $200.00, for a total transaction of $172,000.00. Following the transaction, the director now directly owns 6,843 shares of the company’s stock, valued at approximately $1,368,600. This represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by company insiders.

Institutional Trading of PTC

A number of hedge funds have recently modified their holdings of PTC. Fernbridge Capital Management LP increased 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 buying an additional 650,990 shares during the period. Congress Asset Management Co. raised its stake in shares of PTC by 767.8% during the 3rd quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock worth $119,746,000 after purchasing an additional 586,443 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in shares of PTC in the 3rd quarter valued at approximately $84,549,000. Massachusetts Financial Services Co. MA increased its holdings in PTC by 66.9% in the second 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 bought a new stake in PTC in the second quarter worth approximately $24,416,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Trading Up 0.5 %

Shares of NASDAQ PTC traded up $1.05 during mid-day trading on Friday, hitting $200.06. 340,023 shares of the company traded hands, compared to its average volume of 807,332. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC has a 1 year low of $154.73 and a 1 year high of $201.66. The stock has a market capitalization of $24.03 billion, a price-to-earnings ratio of 64.33, a PEG ratio of 2.69 and a beta of 1.17. The business has a 50 day moving average of $186.73 and a two-hundred day moving average of $179.99.

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.