State of Tennessee Department of Treasury Acquires 8,671 Shares of PTC Inc. (NASDAQ:PTC)

State of Tennessee Department of Treasury lifted its position in PTC Inc. (NASDAQ:PTC - Free Report) by 63.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,412 shares of the technology company's stock after buying an additional 8,671 shares during the period. State of Tennessee Department of Treasury's holdings in PTC were worth $4,121,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in PTC by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company's stock worth $2,627,961,000 after acquiring an additional 240,080 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of PTC by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company's stock valued at $555,626,000 after purchasing an additional 67,504 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of PTC by 2.9% in the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company's stock valued at $203,463,000 after purchasing an additional 30,525 shares in the last quarter. FIL Ltd lifted its holdings in shares of PTC by 0.4% in the fourth quarter. FIL Ltd now owns 1,090,175 shares of the technology company's stock valued at $200,450,000 after purchasing an additional 4,396 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of PTC by 6.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 986,835 shares of the technology company's stock valued at $181,449,000 after purchasing an additional 62,379 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PTC. BMO Capital Markets cut their price target on PTC from $220.00 to $183.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Robert W. Baird boosted their price target on PTC from $181.00 to $185.00 and gave the company an "outperform" rating in a report on Tuesday, April 22nd. Citigroup cut their price target on PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Barclays dropped their target price on PTC from $215.00 to $175.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, StockNews.com lowered PTC from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, PTC presently has a consensus rating of "Moderate Buy" and an average target price of $190.38.

Insider Activity

In related news, Director Corinna Lathan sold 622 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was 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 $1,182,650.12. This represents a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is owned by company insiders.

PTC Stock Performance

NASDAQ PTC traded down $2.20 during trading on Monday, reaching $151.83. 943,754 shares of the company's stock were exchanged, compared to its average volume of 876,472. The business has a 50 day moving average price of $154.06 and a 200-day moving average price of $176.04. The stock has a market capitalization of $18.27 billion, a P/E ratio of 46.86, a PEG ratio of 2.27 and a beta of 1.17. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $203.09.

PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Sell-side analysts forecast that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

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.