PTC Inc. (NASDAQ:PTC) Holdings Lifted by Covestor Ltd

Covestor Ltd lifted its stake in shares of PTC Inc. (NASDAQ:PTC) by 70.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 193 shares of the technology company’s stock after acquiring an additional 80 shares during the quarter. Covestor Ltd’s holdings in PTC were worth $35,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in PTC by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock valued at $2,596,209,000 after acquiring an additional 205,673 shares in the last quarter. Impax Asset Management Group plc boosted its position in PTC by 4.4% in the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock valued at $206,091,000 after buying an additional 48,553 shares during the last quarter. Liontrust Investment Partners LLP boosted its position in PTC by 1.0% in the 2nd quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company’s stock valued at $182,383,000 after buying an additional 10,338 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of PTC by 4.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 875,282 shares of the technology company’s stock valued at $165,377,000 after purchasing an additional 40,462 shares during the period. Finally, Fernbridge Capital Management LP raised its stake in PTC by 6.3% during the 2nd quarter. Fernbridge Capital Management LP now owns 778,015 shares of the technology company’s stock worth $141,342,000 after buying an additional 46,286 shares during the period. Institutional investors own 95.14% of the company’s stock.

PTC Stock Performance

Shares of PTC opened at $190.01 on Friday. The company has a market cap of $22.83 billion, a PE ratio of 60.78, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a current ratio of 1.45, a quick ratio of 0.70 and a debt-to-equity ratio of 0.54. PTC Inc. has a 12-month low of $151.73 and a 12-month high of $199.48. The stock has a 50-day moving average price of $181.63 and a 200-day moving average price of $178.66.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and decreased their price objective for the company from $210.00 to $196.00 in a report on Friday, November 1st. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Piper Sandler lifted their price target on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.