Allspring Global Investments Holdings LLC Purchases 493 Shares of PTC Inc. (NASDAQ:PTC)

Allspring Global Investments Holdings LLC raised its stake in shares of PTC Inc. (NASDAQ:PTC) by 8.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 6,238 shares of the technology company’s stock after purchasing an additional 493 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PTC were worth $1,127,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Intech Investment Management LLC lifted its position in shares of PTC by 180.8% during the 1st quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock valued at $5,115,000 after buying an additional 17,430 shares in the last quarter. Swedbank AB bought a new stake in shares of PTC in the first quarter worth about $9,849,000. BNP Paribas Financial Markets boosted its position in shares of PTC by 133.1% during the 1st quarter. BNP Paribas Financial Markets now owns 122,819 shares of the technology company’s stock valued at $23,205,000 after acquiring an additional 70,131 shares during the last quarter. TD Asset Management Inc grew its stake in shares of PTC by 5.9% in the 1st quarter. TD Asset Management Inc now owns 437,643 shares of the technology company’s stock worth $82,688,000 after buying an additional 24,372 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in PTC by 234.0% during the first quarter. Illinois Municipal Retirement Fund now owns 34,847 shares of the technology company’s stock worth $6,584,000 after acquiring an additional 24,415 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

PTC Trading Down 0.8 %

NASDAQ:PTC opened at $185.33 on Friday. The stock has a fifty day moving average price of $178.38 and a 200 day moving average price of $177.77. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. PTC Inc. has a 12-month low of $135.16 and a 12-month high of $194.24. The firm has a market cap of $22.26 billion, a PE ratio of 75.64, a price-to-earnings-growth ratio of 2.75 and a beta of 1.17.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. PTC had a net margin of 13.32% and a return on equity of 13.36%. The company had revenue of $518.64 million during the quarter, compared to the consensus estimate of $533.04 million. Sell-side analysts anticipate that PTC Inc. will post 3.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PTC. Piper Sandler raised their price target on PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Robert W. Baird raised their price target on shares of PTC from $216.00 to $226.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $202.00 target price on shares of PTC in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.09.

Insider Activity at PTC

In other news, Director Robert Schechter sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total value of $858,650.00. Following the completion of the sale, the director now directly owns 59,616 shares of the company’s stock, valued at approximately $10,237,855.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Staats Aaron C. Von sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the transaction, the executive vice president now directly owns 13,902 shares of the company’s stock, valued at $2,363,340. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Schechter sold 5,000 shares of PTC stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total value of $858,650.00. Following the sale, the director now owns 59,616 shares of the company’s stock, valued at approximately $10,237,855.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,000 shares of company stock valued at $1,714,010 over the last quarter. 1.17% of the stock is owned by insiders.

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.