PTC Inc. (NASDAQ:PTC) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC lessened its position in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 71.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,888 shares of the technology company's stock after selling 52,562 shares during the quarter. Moran Wealth Management LLC's holdings in PTC were worth $3,774,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its holdings in PTC by 9.8% during the third quarter. Advisors Asset Management Inc. now owns 7,335 shares of the technology company's stock valued at $1,325,000 after purchasing an additional 654 shares in the last quarter. Commerce Bank boosted its holdings in PTC by 6.3% in the 3rd quarter. Commerce Bank now owns 47,404 shares of the technology company's stock worth $8,564,000 after buying an additional 2,792 shares during the last quarter. Parnassus Investments LLC raised its holdings in shares of PTC by 0.4% during the third quarter. Parnassus Investments LLC now owns 99,226 shares of the technology company's stock valued at $17,926,000 after acquiring an additional 398 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of PTC during the third quarter worth $1,235,000. Finally, Swiss National Bank grew its stake in PTC by 0.4% during the 3rd quarter. Swiss National Bank now owns 355,400 shares of the technology company's stock valued at $64,207,000 after acquiring an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com upgraded 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 company a "neutral" rating in a report on Thursday, November 7th. Royal Bank of Canada raised their price objective on shares of PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Robert W. Baird upped their target price on shares of PTC from $226.00 to $228.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $195.00 price target on shares of PTC in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, PTC currently has an average rating of "Moderate Buy" and an average price target of $204.83.

PTC Stock Performance

NASDAQ:PTC traded up $4.88 during mid-day trading on Thursday, reaching $193.38. 190,506 shares of the stock were exchanged, compared to its average volume of 805,113. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a 1 year low of $152.68 and a 1 year high of $199.48. The company has a 50 day simple moving average of $183.41 and a 200-day simple moving average of $179.05. The stock has a market capitalization of $23.23 billion, a P/E ratio of 60.61, a P/E/G ratio of 2.56 and a beta of 1.17.

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.