Everence Capital Management Inc. Takes $474,000 Position in PTC Inc. (NASDAQ:PTC)

Everence Capital Management Inc. purchased a new position in shares of PTC Inc. (NASDAQ:PTC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,580 shares of the technology company’s stock, valued at approximately $474,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in PTC by 42.4% during the 2nd quarter. Van ECK Associates Corp now owns 1,675 shares of the technology company’s stock worth $304,000 after purchasing an additional 499 shares during the period. National Bank of Canada FI grew its stake in shares of PTC by 24.2% in the 2nd quarter. National Bank of Canada FI now owns 32,991 shares of the technology company’s stock valued at $5,972,000 after purchasing an additional 6,419 shares during the last quarter. Norden Group LLC increased its holdings in shares of PTC by 31.0% in the second quarter. Norden Group LLC now owns 6,015 shares of the technology company’s stock valued at $1,093,000 after purchasing an additional 1,424 shares during the period. Otter Creek Advisors LLC acquired a new stake in shares of PTC in the 2nd quarter worth $2,540,000. Finally, Acadian Asset Management LLC lifted its position in PTC by 24.7% in the second quarter. Acadian Asset Management LLC now owns 2,553 shares of the technology company’s stock valued at $462,000 after purchasing an additional 506 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Stock Up 0.8 %

Shares of NASDAQ:PTC opened at $184.54 on Monday. The company has a market capitalization of $22.17 billion, a P/E ratio of 59.34, a P/E/G ratio of 2.70 and a beta of 1.18. The stock’s fifty day simple moving average is $192.36 and its 200-day simple moving average is $182.55. PTC Inc. has a 52-week low of $163.30 and a 52-week high of $203.09. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38.

Wall Street Analysts Forecast Growth

PTC has been the topic of a number of analyst reports. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Robert W. Baird increased their price target on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Piper Sandler boosted their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Finally, Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and decreased their price target for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $207.54.

Insider Buying and Selling at PTC

In other PTC news, CFO Kristian Talvitie sold 10,306 shares of the business’s 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 transaction, the chief financial officer now directly owns 57,134 shares in the company, valued at approximately $11,389,091.56. The trade was a 15.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares in the company, valued at $4,344,221.91. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,242 shares of company stock worth $3,630,716. Corporate insiders own 1.17% of the company’s stock.

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.