Principal Financial Group Inc. Purchases 5,403 Shares of PTC Inc. (NASDAQ:PTC)

Principal Financial Group Inc. grew its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,071 shares of the technology company's stock after purchasing an additional 5,403 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of PTC worth $26,931,000 as of its most recent filing with the Securities and Exchange Commission.

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

PTC Trading Up 0.2 %

NASDAQ PTC traded up $0.45 during trading on Wednesday, hitting $193.37. The stock had a trading volume of 254,351 shares, compared to its average volume of 807,499. The stock has a market capitalization of $23.23 billion, a price-to-earnings ratio of 62.57, a P/E/G ratio of 2.61 and a beta of 1.17. The stock has a 50 day simple moving average of $180.72 and a 200 day simple moving average of $178.46. PTC Inc. has a one year low of $151.73 and a one year high of $199.48. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.70 and a current ratio of 1.45.

Analyst Ratings Changes

Several analysts have recently commented on the company. Berenberg Bank downgraded PTC from a "buy" rating to a "hold" rating and reduced their target price for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Rosenblatt Securities restated a "buy" rating and set a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Piper Sandler boosted 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. StockNews.com upgraded PTC from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Finally, Robert W. Baird lifted their price objective on PTC from $226.00 to $228.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.