TT International Asset Management LTD Makes New Investment in PTC Inc. (NASDAQ:PTC)

TT International Asset Management LTD purchased a new position in PTC Inc. (NASDAQ:PTC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,327 shares of the technology company's stock, valued at approximately $1,143,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp raised its position in PTC by 2.7% in the third quarter. State Street Corp now owns 5,076,319 shares of the technology company's stock worth $917,088,000 after acquiring an additional 133,370 shares in the last quarter. Geode Capital Management LLC raised its holdings in PTC by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company's stock worth $533,341,000 after buying an additional 37,645 shares during the period. Fernbridge Capital Management LP increased its holdings in shares of PTC by 83.7% in the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company's stock valued at $258,164,000 after purchasing an additional 650,990 shares during the period. Impax Asset Management Group plc increased its holdings in shares of PTC by 4.4% in the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company's stock valued at $206,091,000 after purchasing an additional 48,553 shares during the period. Finally, Liontrust Investment Partners LLP increased its holdings in shares of PTC by 1.0% in the 2nd quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company's stock valued at $182,383,000 after purchasing an additional 10,338 shares during the period. Institutional investors own 95.14% of the company's stock.

PTC Stock Up 2.1 %

PTC stock traded up $4.10 during mid-day trading on Wednesday, reaching $202.45. The company had a trading volume of 196,783 shares, compared to its average volume of 798,678. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a 50 day simple moving average of $189.25 and a two-hundred day simple moving average of $180.67. The company has a market capitalization of $24.32 billion, a price-to-earnings ratio of 63.78, a PEG ratio of 2.72 and a beta of 1.16. PTC Inc. has a 52 week low of $163.30 and a 52 week high of $202.80.

Insider Buying and Selling at PTC

In related news, Director Corinna Lathan sold 860 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the sale, the director now directly owns 6,843 shares in the company, valued at $1,368,600. The trade was a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the transaction, the executive vice president now directly owns 21,707 shares of the company's stock, valued at $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock worth $3,630,716 over the last ninety days. 1.17% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PTC has been the subject of several recent research reports. Robert W. Baird boosted their price target on PTC from $226.00 to $228.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. 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 research report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on PTC from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, December 2nd. Piper Sandler upped their target price on PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $195.00 price target on shares of PTC in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $205.67.

PTC Company 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.