Jennison Associates LLC Buys 28,987 Shares of PTC Inc. (NASDAQ:PTC)

Jennison Associates LLC grew its stake in shares of PTC Inc. (NASDAQ:PTC) by 10.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 304,633 shares of the technology company’s stock after buying an additional 28,987 shares during the period. Jennison Associates LLC owned 0.26% of PTC worth $53,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in PTC by 6.6% in the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock worth $1,965,137,000 after purchasing an additional 859,227 shares during the last quarter. Invesco Ltd. increased its position in PTC by 5.8% in the third quarter. Invesco Ltd. now owns 2,494,767 shares of the technology company’s stock worth $353,459,000 after purchasing an additional 137,100 shares during the last quarter. FMR LLC increased its position in PTC by 6.0% in the third quarter. FMR LLC now owns 1,989,152 shares of the technology company’s stock worth $281,823,000 after purchasing an additional 113,037 shares during the last quarter. Northern Trust Corp increased its position in PTC by 15.6% in the third quarter. Northern Trust Corp now owns 1,252,741 shares of the technology company’s stock worth $177,488,000 after purchasing an additional 168,917 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in PTC by 12.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,010,963 shares of the technology company’s stock worth $143,233,000 after purchasing an additional 109,664 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

PTC Stock Up 1.1 %

Shares of PTC opened at $180.44 on Wednesday. The firm has a market capitalization of $21.57 billion, a P/E ratio of 91.59, a P/E/G ratio of 3.19 and a beta of 1.17. PTC Inc. has a 12-month low of $120.62 and a 12-month high of $194.24. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average price of $183.54 and a 200-day moving average price of $169.62.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $550.21 million during the quarter, compared to analyst estimates of $538.59 million. PTC had a net margin of 10.86% and a return on equity of 12.87%. Equities research analysts expect that PTC Inc. will post 3.47 earnings per share for the current year.

Insider Activity

In other news, CEO James E. Heppelmann sold 35,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the sale, the chief executive officer now directly owns 968,357 shares of the company’s stock, valued at $171,631,594.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PTC news, insider Catherine Kniker sold 1,330 shares of the 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 transaction, the insider now directly owns 13,864 shares in the company, valued at approximately $2,489,835.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the transaction, the chief executive officer now owns 968,357 shares in the company, valued at $171,631,594.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,415 shares of company stock valued at $6,457,478. 1.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on PTC. KeyCorp boosted their price target on shares of PTC from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upgraded shares of PTC from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $130.00 to $200.00 in a research report on Thursday, January 4th. BMO Capital Markets boosted their price target on shares of PTC from $195.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Oppenheimer boosted their price objective on shares of PTC from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, Piper Sandler boosted their price objective on shares of PTC from $155.00 to $177.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and an average price target of $196.73.

PTC Company 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.