Advisors Asset Management Inc. Boosts Stock Position in PTC Inc. (NASDAQ:PTC)

Advisors Asset Management Inc. raised its position in PTC Inc. (NASDAQ:PTC) by 9.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,335 shares of the technology company’s stock after acquiring an additional 654 shares during the quarter. Advisors Asset Management Inc.’s holdings in PTC were worth $1,325,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PTC. Impax Asset Management Group plc grew its holdings in shares of PTC by 4.4% in the second quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock valued at $206,091,000 after purchasing an additional 48,553 shares in the last quarter. Liontrust Investment Partners LLP increased its position in shares of PTC by 1.0% during the second quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company’s stock worth $182,383,000 after acquiring an additional 10,338 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of PTC by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 875,282 shares of the technology company’s stock valued at $165,377,000 after acquiring an additional 40,462 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in PTC by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 783,077 shares of the technology company’s stock valued at $141,471,000 after purchasing an additional 32,343 shares during the period. Finally, Fernbridge Capital Management LP boosted its holdings in PTC by 6.3% in the second quarter. Fernbridge Capital Management LP now owns 778,015 shares of the technology company’s stock valued at $141,342,000 after purchasing an additional 46,286 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Price Performance

Shares of NASDAQ:PTC opened at $200.59 on Tuesday. PTC Inc. has a 12 month low of $153.44 and a 12 month high of $201.66. The firm has a market capitalization of $24.10 billion, a P/E ratio of 64.50, a P/E/G ratio of 2.68 and a beta of 1.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The company’s fifty day moving average price is $184.90 and its 200 day moving average price is $179.44.

Insider Transactions at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at $160,356. This represents a 67.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Robert W. Baird increased their price target on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 target price on shares of PTC in a report on Thursday, October 10th. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Piper Sandler raised their price objective on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and lowered their target price for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $204.83.

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.