Wealth Enhancement Advisory Services LLC trimmed its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 29.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,523 shares of the technology company's stock after selling 1,500 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in PTC were worth $636,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of PTC. Covestor Ltd raised its position in shares of PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company's stock worth $35,000 after acquiring an additional 80 shares during the period. Brown Brothers Harriman & Co. raised its holdings in PTC by 66.4% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 233 shares of the technology company's stock worth $42,000 after purchasing an additional 93 shares during the period. Brooklyn Investment Group purchased a new position in PTC during the third quarter worth approximately $66,000. Park Place Capital Corp acquired a new stake in PTC in the third quarter valued at approximately $67,000. Finally, Resources Management Corp CT ADV grew its holdings in PTC by 95.3% in the second quarter. Resources Management Corp CT ADV now owns 713 shares of the technology company's stock valued at $130,000 after purchasing an additional 348 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on PTC shares. StockNews.com upgraded PTC from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Stifel Nicolaus boosted their target price on shares of PTC from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Rosenblatt Securities restated a "buy" rating and set a $195.00 price target on shares of PTC in a research report on Thursday, October 10th. Robert W. Baird raised their price target 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. Finally, Piper Sandler boosted their price objective on PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $207.54.
Check Out Our Latest Stock Report on PTC
Insider Transactions at PTC
In other PTC news, CAO Alice Christenson sold 1,703 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was 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 owns 830 shares of the company's stock, valued at $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Staats Aaron C. Von sold 5,373 shares of the company's 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 in the company, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,242 shares of company stock worth $3,630,716 in the last quarter. Company insiders own 0.32% of the company's stock.
PTC Trading Up 0.4 %
PTC stock traded up $0.82 during trading on Friday, reaching $187.79. 612,372 shares of the company were exchanged, compared to its average volume of 728,434. The stock's 50 day simple moving average is $191.52 and its two-hundred day simple moving average is $182.98. The company has a market capitalization of $22.60 billion, a P/E ratio of 60.38, a PEG ratio of 2.47 and a beta of 1.18. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. PTC Inc. has a 52-week low of $163.30 and a 52-week high of $203.09.
PTC Profile
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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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