Louisiana State Employees Retirement System Takes $1.26 Million Position in PTC Inc. (NASDAQ:PTC)

Louisiana State Employees Retirement System acquired a new stake in PTC Inc. (NASDAQ:PTC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,200 shares of the technology company’s stock, valued at approximately $1,260,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PTC. Vanguard Group Inc. grew its position in shares of PTC by 6.6% in the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock valued at $1,965,137,000 after purchasing an additional 859,227 shares during the period. Barclays PLC boosted its holdings in PTC by 67.0% in the third quarter. Barclays PLC now owns 691,521 shares of the technology company’s stock valued at $97,975,000 after acquiring an additional 277,358 shares during the last quarter. Jennison Associates LLC acquired a new position in PTC in the third quarter valued at $39,054,000. Assenagon Asset Management S.A. boosted its holdings in PTC by 1,675.0% in the third quarter. Assenagon Asset Management S.A. now owns 243,921 shares of the technology company’s stock valued at $34,559,000 after acquiring an additional 230,179 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in PTC by 15.6% in the third quarter. Northern Trust Corp now owns 1,252,741 shares of the technology company’s stock valued at $177,488,000 after acquiring an additional 168,917 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Trading Up 1.2 %

NASDAQ:PTC opened at $178.55 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.19 and a current ratio of 1.19. PTC Inc. has a one year low of $120.62 and a one year high of $194.24. The business’s 50-day simple moving average is $183.49 and its 200 day simple moving average is $169.34. The stock has a market cap of $21.35 billion, a price-to-earnings ratio of 90.63, a price-to-earnings-growth ratio of 3.15 and a beta of 1.17.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. PTC had a return on equity of 12.87% and a net margin of 10.86%. The business had revenue of $550.21 million for the quarter, compared to analysts’ expectations of $538.59 million. As a group, sell-side analysts predict that PTC Inc. will post 3.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Barclays lifted their target price on PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 target price on shares of PTC in a report on Thursday, February 1st. JPMorgan Chase & Co. upgraded PTC from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $130.00 to $200.00 in a research note on Thursday, January 4th. Finally, Rosenblatt Securities restated a “buy” rating and set a $195.00 price objective on shares of PTC in a research note on Friday, April 12th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.73.

Insider Buying and Selling

In related news, insider Catherine Kniker sold 1,330 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the transaction, the insider now owns 13,864 shares in the company, valued at $2,489,835.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO James E. Heppelmann sold 35,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the sale, the chief executive officer now directly owns 968,357 shares of the company’s stock, valued at $171,631,594.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Catherine Kniker sold 1,330 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $179.59, for a total value of $238,854.70. Following the completion of the sale, the insider now directly owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,415 shares of company stock worth $6,457,478. 1.17% of the stock is currently owned by corporate insiders.

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.