Massachusetts Financial Services Co. MA increased its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 19.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 924,456 shares of the technology company's stock after purchasing an additional 150,652 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.77% of PTC worth $167,012,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in shares of PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company's stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company's stock worth $26,000 after acquiring an additional 62 shares during the period. Rothschild Investment LLC acquired a new stake in shares of PTC in the second quarter valued at $29,000. International Assets Investment Management LLC purchased a new position in PTC in the second quarter valued at $30,000. Finally, OFI Invest Asset Management purchased a new stake in PTC during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 95.14% of the company's stock.
Insider Buying and Selling
In related news, CAO Alice Christenson sold 1,703 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the sale, the chief accounting officer now owns 830 shares in the company, valued at $160,356. This represents a 67.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.17% of the stock is currently owned by corporate insiders.
PTC Stock Performance
NASDAQ:PTC traded up $4.89 during mid-day trading on Friday, reaching $197.64. The stock had a trading volume of 932,083 shares, compared to its average volume of 900,161. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The business has a 50 day simple moving average of $184.36 and a 200 day simple moving average of $179.28. PTC Inc. has a twelve month low of $153.11 and a twelve month high of $199.48. The firm has a market capitalization of $23.74 billion, a price-to-earnings ratio of 63.55, a PEG ratio of 2.61 and a beta of 1.17.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on PTC shares. 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. StockNews.com raised PTC from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Piper Sandler raised their target price on PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. 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. Finally, Robert W. Baird increased their price target on shares of PTC from $226.00 to $228.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $204.83.
View Our Latest Stock Analysis on PTC
PTC Company Profile
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Free Report)
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.
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