Jennison Associates LLC Raises Stock Holdings in PTC Inc. (NASDAQ:PTC)

Jennison Associates LLC boosted its stake in PTC Inc. (NASDAQ:PTC) by 10.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 304,633 shares of the technology company’s stock after acquiring an additional 28,987 shares during the period. Jennison Associates LLC’s holdings in PTC were worth $53,299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Handelsbanken Fonder AB increased its stake in PTC by 25.2% during the fourth quarter. Handelsbanken Fonder AB now owns 25,300 shares of the technology company’s stock worth $4,426,000 after purchasing an additional 5,100 shares during the period. CWM LLC increased its stake in PTC by 12.0% during the fourth quarter. CWM LLC now owns 1,294 shares of the technology company’s stock worth $226,000 after purchasing an additional 139 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in PTC by 9.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,547 shares of the technology company’s stock worth $2,195,000 after purchasing an additional 1,087 shares during the period. Lindbrook Capital LLC increased its stake in PTC by 108.3% during the fourth quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after purchasing an additional 91 shares during the period. Finally, abrdn plc increased its stake in PTC by 29.8% during the fourth quarter. abrdn plc now owns 112,359 shares of the technology company’s stock worth $19,658,000 after purchasing an additional 25,817 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. raised 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 report on Thursday, January 4th. Oppenheimer boosted their price objective on PTC from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Robert W. Baird reissued an “outperform” rating and set a $210.00 price objective on shares of PTC in a research report on Tuesday, April 2nd. Finally, BMO Capital Markets boosted their price objective on PTC from $195.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $196.73.

PTC Price Performance

Shares of NASDAQ PTC opened at $180.44 on Wednesday. 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 twelve month low of $120.62 and a twelve month high of $194.24. The stock has a 50 day moving average of $183.54 and a two-hundred day moving average of $169.62. The stock has a market cap of $21.57 billion, a P/E ratio of 91.59, a P/E/G ratio of 3.19 and a beta of 1.17.

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

Insider Buying and Selling at PTC

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