PTC Inc. (NASDAQ:PTC) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA decreased its holdings in PTC Inc. (NASDAQ:PTC) by 11.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,398 shares of the technology company’s stock after selling 300 shares during the quarter. Glenmede Trust Co. NA’s holdings in PTC were worth $433,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PTC. Fernbridge Capital Management LP grew its holdings in shares of PTC by 83.7% during the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after buying an additional 650,990 shares during the last quarter. Impax Asset Management Group plc lifted its position in PTC by 4.4% during the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock worth $206,091,000 after acquiring an additional 48,553 shares during the period. Liontrust Investment Partners LLP lifted its position in PTC by 1.0% during the 2nd 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. Massachusetts Financial Services Co. MA lifted its position in PTC by 19.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock worth $167,012,000 after acquiring an additional 150,652 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in PTC by 4.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 783,077 shares of the technology company’s stock worth $141,471,000 after acquiring an additional 32,343 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Transactions at PTC

In other 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Corinna Lathan sold 860 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $200.00, for a total value of $172,000.00. Following the transaction, the director now directly owns 6,843 shares of the company’s stock, valued at $1,368,600. The trade was a 11.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,869 shares of company stock valued at $2,555,418 in the last three months. 1.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PTC has been the subject of a number of research reports. Piper Sandler lifted 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. Robert W. Baird lifted their price target on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday. Rosenblatt Securities restated a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Finally, Royal Bank of Canada boosted their target price on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.67.

PTC Stock Performance

PTC opened at $201.19 on Thursday. 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 stock has a market cap of $24.17 billion, a P/E ratio of 64.69, a P/E/G ratio of 2.70 and a beta of 1.16. The firm has a fifty day moving average price of $188.10 and a 200 day moving average price of $180.33. PTC Inc. has a 1 year low of $158.48 and a 1 year high of $202.77.

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.