CIBC Asset Management Inc Purchases 1,377 Shares of PTC Inc. (NASDAQ:PTC)

CIBC Asset Management Inc lifted its position in shares of PTC Inc. (NASDAQ:PTC) by 8.5% during the third quarter, HoldingsChannel reports. The firm owned 17,494 shares of the technology company’s stock after buying an additional 1,377 shares during the quarter. CIBC Asset Management Inc’s holdings in PTC were worth $3,160,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE raised its position in shares of PTC by 67.7% during the third quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after purchasing an additional 5,717 shares during the period. Swedbank AB acquired a new position in shares of PTC in the first quarter valued at approximately $9,849,000. CWM LLC increased its position in shares of PTC by 112.0% during the second quarter. CWM LLC now owns 7,189 shares of the technology company’s stock worth $1,306,000 after acquiring an additional 3,798 shares in the last quarter. KBC Group NV raised its holdings in shares of PTC by 2.1% during the third quarter. KBC Group NV now owns 228,386 shares of the technology company’s stock worth $41,260,000 after acquiring an additional 4,712 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in PTC by 22.2% in the 1st quarter. Advisors Asset Management Inc. now owns 4,444 shares of the technology company’s stock valued at $840,000 after acquiring an additional 807 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PTC. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and dropped their price target for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Piper Sandler upped their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Robert W. Baird increased their target price on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $204.83.

PTC Trading Down 0.4 %

PTC stock opened at $189.26 on Tuesday. PTC Inc. has a one year low of $152.68 and a one year high of $199.48. The stock has a market cap of $22.74 billion, a price-to-earnings ratio of 60.86, a price-to-earnings-growth ratio of 2.57 and a beta of 1.17. The company has a fifty day moving average price of $182.14 and a two-hundred day moving average price of $178.76. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 0.70.

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.