California Public Employees Retirement System Buys 9,656 Shares of PTC Inc. (NASDAQ:PTC)

California Public Employees Retirement System boosted its holdings in PTC Inc. (NASDAQ:PTC) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 686,202 shares of the technology company’s stock after purchasing an additional 9,656 shares during the period. California Public Employees Retirement System owned about 0.58% of PTC worth $120,058,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Jennison Associates LLC grew its position in PTC by 10.5% in the fourth quarter. Jennison Associates LLC now owns 304,633 shares of the technology company’s stock valued at $53,299,000 after purchasing an additional 28,987 shares in the last quarter. Handelsbanken Fonder AB grew its position in PTC by 25.2% in the fourth quarter. Handelsbanken Fonder AB now owns 25,300 shares of the technology company’s stock valued at $4,426,000 after purchasing an additional 5,100 shares in the last quarter. CWM LLC grew its position in PTC by 12.0% in the fourth quarter. CWM LLC now owns 1,294 shares of the technology company’s stock valued at $226,000 after purchasing an additional 139 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in PTC by 9.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,547 shares of the technology company’s stock valued at $2,195,000 after purchasing an additional 1,087 shares in the last quarter. Finally, Lindbrook Capital LLC grew its position in shares of PTC by 108.3% in the 4th quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock valued at $31,000 after acquiring an additional 91 shares during the period. Institutional investors own 95.14% of the company’s stock.

Insider Activity

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

PTC Price Performance

Shares of NASDAQ:PTC opened at $180.44 on Wednesday. The firm has a 50 day moving average of $183.54 and a 200-day moving average of $169.62. The stock has a market capitalization of $21.57 billion, a PE ratio of 91.59, a PEG ratio of 3.19 and a beta of 1.17. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.80. PTC Inc. has a 12 month low of $120.62 and a 12 month high of $194.24.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $550.21 million during the quarter, compared to analysts’ expectations of $538.59 million. PTC had a net margin of 10.86% and a return on equity of 12.87%. On average, equities research analysts predict that PTC Inc. will post 3.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Mizuho lifted their price objective on shares of PTC from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Barclays lifted their price objective on shares of PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Oppenheimer lifted their price objective on shares of PTC from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. BMO Capital Markets raised their target price on shares of PTC from $195.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, Piper Sandler raised their target price on shares of PTC from $155.00 to $177.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, PTC currently has a consensus rating of “Moderate Buy” and an average target price of $196.73.

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.