PTC Inc. (NASDAQ:PTC) Shares Acquired by Commerce Bank

Commerce Bank increased its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,404 shares of the technology company's stock after acquiring an additional 2,792 shares during the quarter. Commerce Bank's holdings in PTC were worth $8,564,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Congress Asset Management Co. raised its holdings in 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 in the last quarter. Massachusetts Financial Services Co. MA grew 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 worth $140,577,000 after purchasing an additional 310,092 shares in the last quarter. Railway Pension Investments Ltd purchased a new stake in PTC during the 2nd quarter valued at approximately $24,416,000. Van Lanschot Kempen Investment Management N.V. boosted its holdings in shares of PTC by 13.2% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 768,810 shares of the technology company's stock valued at $139,670,000 after purchasing an additional 89,678 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of PTC by 46.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 253,149 shares of the technology company's stock worth $45,990,000 after acquiring an additional 79,855 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Stock Up 1.4 %

NASDAQ PTC traded up $2.69 during trading on Friday, reaching $195.44. 383,491 shares of the company's stock traded hands, compared to its average volume of 805,401. PTC Inc. has a 12-month low of $153.11 and a 12-month high of $199.48. 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 firm has a market cap of $23.48 billion, a price-to-earnings ratio of 62.04, a price-to-earnings-growth ratio of 2.56 and a beta of 1.17. The company's 50 day simple moving average is $183.85 and its two-hundred day simple moving average is $179.15.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Robert W. Baird raised 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. Piper Sandler increased their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. StockNews.com upgraded PTC from a "hold" rating to a "buy" rating in a report on Friday, November 8th. 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, Berenberg Bank lowered shares of PTC from a "buy" rating to a "hold" rating and lowered their target price for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $204.83.

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.