KLP Kapitalforvaltning AS Takes $7.15 Million Position in PTC Inc. (NASDAQ:PTC)

KLP Kapitalforvaltning AS acquired a new position in PTC Inc. (NASDAQ:PTC) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 38,900 shares of the technology company’s stock, valued at approximately $7,153,000.

A number of other large investors have also recently added to or reduced their stakes in PTC. Allworth Financial LP raised its position in PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares during the last quarter. Assetmark Inc. lifted its stake in PTC by 825.0% in the 4th quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock valued at $61,000 after buying an additional 297 shares in the last quarter. Brooklyn Investment Group purchased a new stake in PTC in the 3rd quarter valued at approximately $66,000. Smartleaf Asset Management LLC grew its holdings in PTC by 83.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock valued at $83,000 after buying an additional 205 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new position in shares of PTC in the fourth quarter worth $84,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction that occurred on Monday, March 17th. The shares were 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 in the company, valued at $1,182,650.12. This trade represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on PTC shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $204.00 price objective on shares of PTC in a research note on Tuesday, February 4th. KeyCorp lifted their price target on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Stifel Nicolaus upped their price objective on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price objective on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Finally, StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Stock Up 1.0 %

PTC opened at $161.45 on Tuesday. PTC Inc. has a 1 year low of $151.80 and a 1 year high of $203.09. The firm has a 50 day moving average price of $171.95 and a 200 day moving average price of $181.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $19.43 billion, a PE ratio of 49.83, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22.

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