Westfield Capital Management Co. LP Grows Stock Holdings in PTC Inc. (NASDAQ:PTC)

Westfield Capital Management Co. LP boosted its position in PTC Inc. (NASDAQ:PTC - Free Report) by 1.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 650,151 shares of the technology company's stock after purchasing an additional 11,923 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.54% of PTC worth $117,456,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its position in PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company's stock valued at $26,000 after buying an additional 122 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of PTC by 77.5% in the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company's stock valued at $26,000 after purchasing an additional 62 shares during the period. Rothschild Investment LLC purchased a new position in shares of PTC in the second quarter worth about $29,000. International Assets Investment Management LLC acquired a new stake in shares of PTC during the second quarter worth about $30,000. Finally, OFI Invest Asset Management purchased a new stake in PTC in the second quarter valued at approximately $31,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PTC news, CAO Alice Christenson sold 1,703 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 830 shares of the company's stock, valued at $160,356. This represents a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.17% of the stock is currently owned by company insiders.

PTC Price Performance

Shares of PTC stock traded up $4.89 during trading hours on Friday, hitting $197.64. 932,083 shares of the company's stock were exchanged, compared to its average volume of 900,161. The firm has a 50 day moving average of $184.36 and a two-hundred day moving average of $179.29. PTC Inc. has a fifty-two week low of $153.11 and a fifty-two week high of $199.48. The firm has a market cap 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. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Berenberg Bank lowered shares of PTC from a "buy" rating to a "hold" rating and reduced their price target for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Piper Sandler boosted their target price on shares of PTC from $182.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Rosenblatt Securities reaffirmed a "buy" rating and set a $195.00 price target on shares of PTC in a research report on Thursday, October 10th. StockNews.com upgraded PTC from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada lifted their price target on PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, PTC presently has a consensus rating of "Moderate Buy" and an average price target of $204.83.

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.