Alaska Permanent Fund Corp Increases Position in PTC Inc. (NASDAQ:PTC)

Alaska Permanent Fund Corp lifted its holdings in shares of PTC Inc. (NASDAQ:PTC) by 16.0% during the fourth quarter, Holdings Channel reports. The fund owned 25,257 shares of the technology company’s stock after purchasing an additional 3,489 shares during the quarter. Alaska Permanent Fund Corp’s holdings in PTC were worth $4,419,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Legacy Financial Group LLC acquired a new position in shares of PTC during the third quarter worth approximately $28,000. Lindbrook Capital LLC boosted its position in shares of 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 buying an additional 91 shares during the period. Resources Management Corp CT ADV boosted its position in shares of PTC by 4,285.7% during the third quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock worth $43,000 after buying an additional 300 shares during the period. GAMMA Investing LLC acquired a new position in shares of PTC during the fourth quarter worth approximately $124,000. Finally, CWM LLC raised its holdings in PTC by 6.9% during the third quarter. CWM LLC now owns 1,155 shares of the technology company’s stock worth $164,000 after purchasing an additional 75 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PTC shares. Piper Sandler boosted their target price on PTC from $155.00 to $177.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Barclays boosted their target price on PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. KeyCorp boosted their target price on PTC from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Robert W. Baird reissued an “outperform” rating and set a $210.00 target price on shares of PTC in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $202.00 price target on shares of PTC in a report on Thursday, February 1st. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $196.73.

PTC Stock Performance

Shares of PTC traded up $0.06 during trading hours on Wednesday, reaching $180.50. 415,846 shares of the company traded hands, compared to its average volume of 825,102. The stock’s fifty day moving average is $183.54 and its 200 day moving average is $169.62. The stock has a market cap of $21.58 billion, a P/E ratio of 91.37, a price-to-earnings-growth ratio of 3.19 and a beta of 1.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.19 and a current ratio of 1.19. PTC Inc. has a 1-year low of $120.62 and a 1-year high of $194.24.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $538.59 million. Equities research analysts anticipate that PTC Inc. will post 3.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PTC news, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction dated 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 $2,489,835.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $177.24, for a total value 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 $171,631,594.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Catherine Kniker sold 1,330 shares of PTC 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 sale, the insider now directly 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 ninety days, insiders have sold 36,415 shares of company stock valued at $6,457,478. 1.17% of the stock is currently owned by insiders.

About PTC

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.