Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 4.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 783,077 shares of the technology company's stock after purchasing an additional 32,343 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.65% of PTC worth $141,471,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Intech Investment Management LLC boosted its stake in PTC by 180.8% in the 1st quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company's stock valued at $5,115,000 after buying an additional 17,430 shares in the last quarter. US Bancorp DE increased its holdings in shares of PTC by 67.7% during the third quarter. US Bancorp DE now owns 14,165 shares of the technology company's stock worth $2,559,000 after buying an additional 5,717 shares in the last quarter. Swedbank AB bought a new position in shares of PTC in the first quarter valued at approximately $9,849,000. TD Asset Management Inc grew its position in PTC by 5.9% during the 1st quarter. TD Asset Management Inc now owns 437,643 shares of the technology company's stock worth $82,688,000 after acquiring an additional 24,372 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in PTC during the 1st quarter valued at $2,595,000. Institutional investors and hedge funds own 95.14% of the company's stock.
Analyst Ratings Changes
Several analysts have recently commented on PTC shares. Berenberg Bank cut PTC from a "buy" rating to a "hold" rating and decreased their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. 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 report on Thursday, November 7th. Royal Bank of Canada raised their price target on shares of PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. StockNews.com upgraded shares of PTC from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $204.83.
Get Our Latest Research Report on PTC
PTC Stock Up 0.3 %
PTC stock traded up $0.54 during midday trading on Wednesday, hitting $193.46. 852,669 shares of the stock were exchanged, compared to its average volume of 810,219. The stock has a market capitalization of $23.24 billion, a price-to-earnings ratio of 62.57, a price-to-earnings-growth ratio of 2.61 and a beta of 1.17. PTC Inc. has a 52-week low of $151.73 and a 52-week high of $199.48. The company has a quick ratio of 0.70, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. The business's 50-day moving average price is $180.72 and its 200-day moving average price is $178.46.
PTC Company Profile
(
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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