38,900 Shares in PTC Inc. (NASDAQ:PTC) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in PTC Inc. (NASDAQ:PTC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 38,900 shares of the technology company’s stock, valued at approximately $7,153,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of PTC by 2.7% in the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock valued at $917,088,000 after acquiring an additional 133,370 shares during the last quarter. Geode Capital Management LLC boosted its holdings in PTC by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock valued at $533,341,000 after purchasing an additional 37,645 shares in the last quarter. Fernbridge Capital Management LP increased its stake in PTC by 83.7% in the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after purchasing an additional 650,990 shares during the last quarter. Franklin Resources Inc. raised its holdings in PTC by 2.9% during the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock worth $203,463,000 after purchasing an additional 30,525 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of PTC by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 821,962 shares of the technology company’s stock valued at $151,134,000 after buying an additional 36,231 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Activity at PTC

In related news, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the sale, the director now owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.32% of the company’s stock.

PTC Stock Performance

Shares of PTC opened at $161.45 on Tuesday. The stock has a market capitalization of $19.43 billion, a P/E ratio of 49.83, a P/E/G ratio of 2.27 and a beta of 1.22. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. PTC Inc. has a 1 year low of $151.80 and a 1 year high of $203.09. The company’s fifty day moving average is $171.95 and its two-hundred day moving average is $181.25.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. On average, sell-side analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PTC. Stifel Nicolaus boosted their price target on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Citigroup reduced their target price on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. boosted their price objective on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $204.00 target price on shares of PTC in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $210.09.

PTC 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.