PTC Inc. (NASDAQ:PTC) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 1,540,000 shares, a drop of 16.3% from the March 31st total of 1,840,000 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily volume of 1,100,000 shares, the days-to-cover ratio is presently 1.4 days.
NASDAQ PTC traded down $0.26 during trading hours on Tuesday, reaching $129.99. 857,785 shares of the company’s stock traded hands, compared to its average volume of 1,045,111. PTC has a 52-week low of $60.98 and a 52-week high of $149.50. The firm has a market cap of $15.18 billion, a PE ratio of 114.12, a PEG ratio of 5.19 and a beta of 1.33. The firm has a 50-day simple moving average of $139.60 and a 200 day simple moving average of $123.01. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 1.22.
PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, April 28th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.38. PTC had a net margin of 8.96% and a return on equity of 16.53%. The company had revenue of $461.79 million during the quarter, compared to analysts’ expectations of $416.01 million. During the same period last year, the company posted $0.59 EPS. PTC’s revenue was up 28.4% on a year-over-year basis. Sell-side analysts forecast that PTC will post 1.56 EPS for the current fiscal year.
In related news, Director Phillip M. Fernandez sold 250 shares of PTC stock in a transaction on Wednesday, March 24th. The shares were sold at an average price of $130.87, for a total value of $32,717.50. Following the transaction, the director now owns 22,170 shares in the company, valued at approximately $2,901,387.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Ditullio sold 5,372 shares of PTC stock in a transaction on Thursday, April 15th. The stock was sold at an average price of $147.83, for a total transaction of $794,142.76. Following the completion of the transaction, the executive vice president now owns 36,376 shares in the company, valued at approximately $5,377,464.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,018 shares of company stock worth $1,023,232. 10.02% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of PTC. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in PTC by 22.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 36,984 shares of the technology company’s stock worth $4,424,000 after buying an additional 6,780 shares during the last quarter. State of Michigan Retirement System raised its holdings in PTC by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 38,240 shares of the technology company’s stock worth $4,574,000 after buying an additional 200 shares during the last quarter. Principal Financial Group Inc. raised its holdings in PTC by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 317,439 shares of the technology company’s stock worth $37,969,000 after buying an additional 2,041 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in PTC by 12.6% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 47,032 shares of the technology company’s stock worth $5,625,000 after buying an additional 5,281 shares during the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co purchased a new position in PTC in the fourth quarter worth about $132,000. 83.96% of the stock is owned by institutional investors.
PTC has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of PTC from a “sell” rating to a “hold” rating and set a $137.00 price target on the stock in a report on Monday, January 25th. Mizuho raised their price target on shares of PTC from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, April 16th. Royal Bank of Canada raised their price target on shares of PTC from $145.00 to $165.00 and gave the stock an “outperform” rating in a report on Monday, April 26th. TheStreet raised shares of PTC from a “c+” rating to a “b+” rating in a report on Wednesday, April 28th. Finally, Barclays lifted their target price on shares of PTC from $145.00 to $161.00 and gave the company an “overweight” rating in a research note on Thursday, April 22nd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. PTC presently has a consensus rating of “Buy” and a consensus price target of $121.63.
PTC Inc operates as software and services company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an IIoT platform that enables customers to address digital transformation of their operations, products, and services; ThingWorx Solution Central, a centralized portal in the cloud that allows users of ThingWorx to discover, deploy, and manage ThingWorx applications; and ThingWorx Kepware, which enables users to connect, manage, monitor, and control disparate devices and software applications.