State of New Jersey Common Pension Fund D Raises Holdings in PTC Inc. (NASDAQ:PTC)

State of New Jersey Common Pension Fund D increased its position in PTC Inc. (NASDAQ:PTC) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,697 shares of the technology company’s stock after buying an additional 992 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in PTC were worth $10,795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of PTC by 6.6% during the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock worth $1,965,137,000 after acquiring an additional 859,227 shares during the last quarter. Invesco Ltd. increased its position in shares of PTC by 5.8% during the third quarter. Invesco Ltd. now owns 2,494,767 shares of the technology company’s stock worth $353,459,000 after acquiring an additional 137,100 shares during the last quarter. FMR LLC increased its position in shares of PTC by 6.0% during the third quarter. FMR LLC now owns 1,989,152 shares of the technology company’s stock worth $281,823,000 after acquiring an additional 113,037 shares during the last quarter. Northern Trust Corp increased its position in shares of PTC by 15.6% during the third quarter. Northern Trust Corp now owns 1,252,741 shares of the technology company’s stock worth $177,488,000 after acquiring an additional 168,917 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PTC by 12.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,010,963 shares of the technology company’s stock worth $143,233,000 after acquiring an additional 109,664 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Piper Sandler lifted their target price on PTC from $155.00 to $177.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Oppenheimer lifted their target price on PTC from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Barclays lifted their target price on PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, BMO Capital Markets lifted their target price on PTC from $195.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. One research 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 an average rating of “Moderate Buy” and an average price target of $202.40.

Insider Activity

In related news, insider Catherine Kniker sold 1,330 shares of PTC stock in a transaction on 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 owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other PTC news, CEO James E. Heppelmann sold 35,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $238,854.70. Following the transaction, the insider now owns 13,864 shares in the company, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. Insiders sold a total of 36,415 shares of company stock worth $6,457,478 in the last three months. 1.17% of the stock is owned by insiders.

PTC Price Performance

NASDAQ:PTC traded down $0.62 during midday trading on Thursday, hitting $179.88. 953,897 shares of the stock were exchanged, compared to its average volume of 826,715. PTC Inc. has a one year low of $120.62 and a one year high of $194.24. The company has a market capitalization of $21.50 billion, a price-to-earnings ratio of 91.62, a P/E/G ratio of 3.22 and a beta of 1.17. The business has a 50-day moving average price of $183.53 and a two-hundred day moving average price of $169.70. 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 (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. PTC had a net margin of 10.86% and a return on equity of 12.87%. The firm had revenue of $550.21 million for the quarter, compared to analysts’ expectations of $538.59 million. Sell-side analysts predict that PTC Inc. will post 3.47 EPS for the current year.

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.