Eagle Asset Management Inc. Sells 60,022 Shares of PTC Inc. (NASDAQ:PTC)

Eagle Asset Management Inc. reduced its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 654,561 shares of the technology company's stock after selling 60,022 shares during the period. Eagle Asset Management Inc. owned 0.54% of PTC worth $126,219,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PTC. First Horizon Advisors Inc. boosted its holdings in PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company's stock worth $26,000 after buying an additional 62 shares during the period. Blue Trust Inc. grew its position in shares of PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company's stock worth $26,000 after purchasing an additional 122 shares in the last quarter. Rothschild Investment LLC bought a new stake in PTC during the 2nd quarter valued at approximately $29,000. International Assets Investment Management LLC purchased a new position in PTC in the 2nd quarter worth approximately $30,000. Finally, OFI Invest Asset Management bought a new position in PTC in the 2nd quarter worth approximately $31,000. 95.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PTC. Piper Sandler upped their target price 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. Rosenblatt Securities reiterated a "buy" rating and set a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Robert W. Baird boosted their price target on shares of PTC from $226.00 to $228.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, Berenberg Bank downgraded shares of PTC from a "buy" rating to a "hold" rating and reduced their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $204.83.

PTC Trading Up 1.5 %

PTC stock traded up $2.82 during mid-day trading on Friday, reaching $195.57. The company had a trading volume of 335,438 shares, compared to its average volume of 805,190. The company has a market capitalization of $23.49 billion, a PE ratio of 62.04, a price-to-earnings-growth ratio of 2.56 and a beta of 1.17. The firm has a 50 day moving average of $183.85 and a 200 day moving average of $179.15. 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.

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.