MML Investors Services LLC Raises Stock Holdings in PTC Inc. (NASDAQ:PTC)

MML Investors Services LLC grew its holdings in shares of PTC Inc. (NASDAQ:PTC) by 67.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,181 shares of the technology company’s stock after buying an additional 1,276 shares during the period. MML Investors Services LLC’s holdings in PTC were worth $575,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fernbridge Capital Management LP raised its position in shares of PTC by 83.7% in the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after purchasing an additional 650,990 shares during the last quarter. Congress Asset Management Co. raised its stake in shares of PTC by 767.8% in the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock worth $119,746,000 after purchasing an additional 586,443 shares during the last quarter. D1 Capital Partners L.P. bought a new position in shares of PTC during the third quarter valued at $84,549,000. Massachusetts Financial Services Co. MA boosted its position in shares of PTC by 66.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock valued at $140,577,000 after buying an additional 310,092 shares during the last quarter. Finally, State Street Corp increased its holdings in PTC by 2.7% in the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after buying an additional 133,370 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the sale, the chief accounting officer now owns 830 shares in the company, valued at $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $200.00, for a total transaction of $172,000.00. Following the transaction, the director now owns 6,843 shares of the company’s stock, valued at approximately $1,368,600. This represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock worth $3,630,716 in the last three months. Company insiders own 1.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PTC. Rosenblatt Securities restated a “buy” rating and set a $195.00 target price on shares of PTC in a research note on Thursday, October 10th. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and cut their target price for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price target on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Robert W. Baird increased their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PTC presently has an average rating of “Moderate Buy” and an average price target of $207.54.

PTC Price Performance

Shares of NASDAQ:PTC opened at $187.58 on Monday. The company has a market capitalization of $22.53 billion, a P/E ratio of 60.32, a P/E/G ratio of 2.70 and a beta of 1.16. PTC Inc. has a 1-year low of $163.30 and a 1-year high of $203.09. The firm’s 50 day simple moving average is $192.29 and its two-hundred day simple moving average is $181.87. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78.

PTC 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.