Louisiana State Employees Retirement System Acquires New Position in PTC Inc. (NASDAQ:PTC)

Louisiana State Employees Retirement System acquired a new stake in PTC Inc. (NASDAQ:PTCGet Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,800 shares of the technology company’s stock, valued at approximately $711,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PTC. American Century Companies Inc. lifted its stake in shares of PTC by 205.5% in the first quarter. American Century Companies Inc. now owns 8,606 shares of the technology company’s stock valued at $927,000 after purchasing an additional 5,789 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of PTC by 84.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,928 shares of the technology company’s stock valued at $316,000 after purchasing an additional 1,340 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of PTC in the first quarter valued at about $110,000. MetLife Investment Management LLC lifted its stake in shares of PTC by 42.9% in the first quarter. MetLife Investment Management LLC now owns 33,353 shares of the technology company’s stock valued at $3,593,000 after purchasing an additional 10,013 shares during the period. Finally, Panagora Asset Management Inc. raised its position in PTC by 128.5% during the first quarter. Panagora Asset Management Inc. now owns 10,904 shares of the technology company’s stock worth $1,175,000 after acquiring an additional 6,133 shares during the last quarter. Institutional investors and hedge funds own 86.79% of the company’s stock.

PTC Stock Performance

NASDAQ:PTC opened at $122.69 on Friday. The firm has a 50 day simple moving average of $123.55 and a 200-day simple moving average of $116.49. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $14.50 billion, a PE ratio of 46.30, a P/E/G ratio of 2.63 and a beta of 1.17. PTC Inc. has a 1-year low of $96.55 and a 1-year high of $133.14.

PTC (NASDAQ:PTCGet Rating) last released its earnings results on Wednesday, November 2nd. The technology company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.15. PTC had a net margin of 16.19% and a return on equity of 18.58%. The firm had revenue of $507.93 million during the quarter, compared to the consensus estimate of $498.19 million. On average, equities analysts expect that PTC Inc. will post 3.39 EPS for the current year.

Insider Activity at PTC

In related news, Director Blake D. Moret sold 304,000 shares of the business’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $121.21, for a total value of $36,847,840.00. Following the completion of the sale, the director now directly owns 7,712,998 shares in the company, valued at $934,892,487.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other PTC news, Director Blake D. Moret sold 7,281 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $123.68, for a total transaction of $900,514.08. Following the completion of the sale, the director now directly owns 7,705,717 shares in the company, valued at $953,043,078.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Blake D. Moret sold 304,000 shares of the business’s stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $121.21, for a total transaction of $36,847,840.00. Following the sale, the director now owns 7,712,998 shares of the company’s stock, valued at $934,892,487.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 483,788 shares of company stock worth $59,367,463. 8.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PTC has been the subject of a number of research reports. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 4th. Royal Bank of Canada lifted their target price on shares of PTC from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, November 3rd. Robert W. Baird lifted their target price on shares of PTC to $150.00 in a research report on Wednesday, December 14th. Citigroup lifted their target price on shares of PTC to $135.00 in a research report on Tuesday, November 15th. Finally, Barclays lifted their target price on shares of PTC from $135.00 to $148.00 and gave the stock an “overweight” rating in a research report on Thursday, November 17th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.13.

PTC Profile

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PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers end-to-end capabilities to enable digital transformation; and Vuforia, which enables the creation of AR.

See Also

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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