Illinois Municipal Retirement Fund Buys 1,894 Shares of PTC Inc. (NASDAQ:PTC)

Illinois Municipal Retirement Fund raised its stake in PTC Inc. (NASDAQ:PTC) by 13.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,364 shares of the technology company’s stock after acquiring an additional 1,894 shares during the period. Illinois Municipal Retirement Fund’s holdings in PTC were worth $3,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PTC. Sentry Investment Management LLC bought a new stake in PTC in the fourth quarter valued at approximately $84,000. Union Bancaire Privee UBP SA bought a new stake in shares of PTC in the 4th quarter valued at $451,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of PTC by 3.7% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 44,888 shares of the technology company’s stock valued at $8,254,000 after purchasing an additional 1,600 shares during the last quarter. Olympiad Research LP raised its stake in PTC by 5.6% during the fourth quarter. Olympiad Research LP now owns 2,442 shares of the technology company’s stock worth $449,000 after buying an additional 129 shares during the last quarter. Finally, ING Groep NV bought a new position in PTC during the fourth quarter worth $2,821,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Activity at PTC

In related news, CFO Kristian Talvitie sold 10,306 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the completion of the sale, the chief financial officer now directly owns 57,134 shares of the company’s stock, valued at approximately $11,389,091.56. This represents a 15.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the transaction, the executive vice president now directly owns 21,707 shares in the company, valued at $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PTC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Rosenblatt Securities restated a “buy” rating and set a $204.00 target price on shares of PTC in a research report on Tuesday, February 4th. Citigroup lowered their target price on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Stifel Nicolaus increased their price target on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Piper Sandler raised their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Price Performance

Shares of NASDAQ:PTC opened at $162.75 on Friday. The stock’s 50 day moving average is $180.45 and its 200-day moving average is $182.94. PTC Inc. has a twelve month low of $160.53 and a twelve month high of $203.09. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $19.58 billion, a price-to-earnings ratio of 50.23, a PEG ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC) last released 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%. Sell-side analysts forecast that PTC Inc. will post 4.46 EPS 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.