Intech Investment Management LLC Increases Stake in PTC Inc. (NASDAQ:PTC)

Intech Investment Management LLC increased its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 19.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,290 shares of the technology company's stock after purchasing an additional 4,177 shares during the period. Intech Investment Management LLC's holdings in PTC were worth $4,569,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. First Horizon Advisors Inc. raised 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 valued at $26,000 after buying an additional 62 shares during the last quarter. Blue Trust Inc. raised its position in PTC by 762.5% in 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 acquired a new position in PTC in the second quarter worth about $29,000. International Assets Investment Management LLC acquired a new position in PTC in the second quarter worth about $30,000. Finally, OFI Invest Asset Management acquired a new position in PTC in the second quarter worth about $31,000. 95.14% of the stock is currently owned by institutional investors.

PTC Stock Up 2.5 %

Shares of PTC stock traded up $4.89 during trading hours on Friday, reaching $197.64. The company's 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 stock's fifty day simple moving average is $184.36 and its two-hundred day simple moving average is $179.28. PTC Inc. has a one year low of $153.11 and a one year high of $199.48. The company has a market capitalization of $23.74 billion, a P/E ratio of 63.55, a P/E/G ratio of 2.61 and a beta of 1.17.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PTC. Piper Sandler raised their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Berenberg Bank lowered shares of PTC from a "buy" rating to a "hold" rating and lowered their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Robert W. Baird lifted their target price on shares of PTC from $226.00 to $228.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Rosenblatt Securities reissued a "buy" rating and issued a $195.00 price target on shares of PTC in a report on Thursday, October 10th. Finally, StockNews.com raised shares of PTC from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $204.83.

Insider Transactions at PTC

In related news, CAO Alice Christenson sold 1,703 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now directly 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 filing with the SEC, which is available through this link. Corporate insiders own 1.17% of the company's stock.

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.