National Bank of Canada FI Buys 15,813 Shares of PTC Inc. (NASDAQ:PTC)

National Bank of Canada FI lifted its position in PTC Inc. (NASDAQ:PTC - Free Report) by 47.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 48,804 shares of the technology company's stock after purchasing an additional 15,813 shares during the period. National Bank of Canada FI's holdings in PTC were worth $8,817,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PTC. Worldquant Millennium Advisors LLC bought a new stake in shares of PTC in the 3rd quarter worth approximately $20,636,000. Wahed Invest LLC boosted its holdings in PTC by 12.1% in the third quarter. Wahed Invest LLC now owns 2,872 shares of the technology company's stock valued at $519,000 after acquiring an additional 309 shares in the last quarter. State Street Corp increased its position in PTC by 2.7% during the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company's stock valued at $917,088,000 after purchasing an additional 133,370 shares during the period. Stifel Financial Corp raised its holdings in PTC by 18.7% in the 3rd quarter. Stifel Financial Corp now owns 9,449 shares of the technology company's stock worth $1,707,000 after purchasing an additional 1,487 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of PTC by 19.5% in the 3rd quarter. Quantinno Capital Management LP now owns 2,826 shares of the technology company's stock worth $511,000 after purchasing an additional 462 shares during the period. 95.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PTC. JPMorgan Chase & Co. raised their target price on PTC from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, December 2nd. StockNews.com upgraded shares of PTC from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Royal Bank of Canada increased their price target on shares of PTC from $202.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Rosenblatt Securities reissued a "buy" rating and set a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Finally, Robert W. Baird raised their target price 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 research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, PTC has an average rating of "Moderate Buy" and an average target price of $205.67.

PTC Stock Performance

NASDAQ PTC traded down $0.59 during trading hours on Thursday, hitting $201.30. 755,808 shares of the company's stock traded hands, compared to its average volume of 799,244. PTC Inc. has a 52 week low of $163.30 and a 52 week high of $203.09. The firm has a market capitalization of $24.18 billion, a P/E ratio of 64.92, a P/E/G ratio of 2.72 and a beta of 1.16. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The business's fifty day moving average price is $190.18 and its two-hundred day moving average price is $180.92.

Insider Activity at PTC

In related news, CAO Alice Christenson sold 1,703 shares of the business'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 transaction, the chief accounting officer now directly owns 830 shares of the company's stock, valued at approximately $160,356. The trade was a 67.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares in the company, valued at approximately $4,344,221.91. The trade was a 19.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,242 shares of company stock worth $3,630,716. 1.17% of the stock is owned by company insiders.

About PTC

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.