Peregrine Capital Management LLC Buys 2,020 Shares of PTC Inc. (NASDAQ:PTC)

Peregrine Capital Management LLC lifted its stake in PTC Inc. (NASDAQ:PTC) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,083 shares of the technology company’s stock after acquiring an additional 2,020 shares during the period. PTC accounts for 0.6% of Peregrine Capital Management LLC’s portfolio, making the stock its 29th largest position. Peregrine Capital Management LLC owned 0.09% of PTC worth $20,425,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PTC. State Street Corp boosted its position in PTC by 2.7% in the third quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock valued at $917,088,000 after buying an additional 133,370 shares during the last quarter. Geode Capital Management LLC lifted its stake in PTC by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock valued at $533,341,000 after acquiring an additional 37,645 shares during the period. Fernbridge Capital Management LP boosted its holdings in shares of PTC by 83.7% in the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after acquiring an additional 650,990 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of 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 during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in PTC by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after purchasing an additional 150,652 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PTC news, CFO Kristian Talvitie sold 10,306 shares of PTC stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the sale, the chief financial officer now directly owns 57,134 shares in the company, valued at $11,389,091.56. The trade was a 15.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now owns 830 shares of the company’s stock, valued at approximately $160,356. This trade represents a 67.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock worth $3,630,716 over the last ninety days. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

PTC has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Piper Sandler increased their target price on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and cut their price target for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Finally, Stifel Nicolaus raised their price objective on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.09.

PTC Stock Up 1.9 %

PTC stock opened at $171.10 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.23 and a quick ratio of 0.78. PTC Inc. has a 12 month low of $163.30 and a 12 month high of $203.09. The firm has a market capitalization of $20.59 billion, a PE ratio of 52.81, a P/E/G ratio of 2.33 and a beta of 1.19. The company’s 50 day simple moving average is $186.10 and its 200-day simple moving average is $183.44.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Equities analysts expect that PTC Inc. will post 4.62 earnings per share for the current fiscal year.

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.