Legacy Wealth Asset Management LLC acquired a new position in PTC Inc. (NASDAQ:PTC – Free Report) during the third quarter, HoldingsChannel.com reports. The fund acquired 2,043 shares of the technology company’s stock, valued at approximately $369,000.
Other large investors have also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its stake in 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 acquiring an additional 62 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of 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 purchasing an additional 122 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of PTC in the 2nd quarter worth $29,000. International Assets Investment Management LLC purchased a new position in PTC during the 2nd quarter worth $30,000. Finally, OFI Invest Asset Management acquired a new position in PTC during the 2nd quarter valued at about $31,000. Institutional investors own 95.14% of the company’s stock.
PTC Stock Performance
NASDAQ:PTC opened at $187.01 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $22.47 billion, a PE ratio of 76.33, a P/E/G ratio of 2.69 and a beta of 1.17. PTC Inc. has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The company has a fifty day moving average of $177.54 and a two-hundred day moving average of $177.67.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Piper Sandler raised their target price on PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $202.00 price target on shares of PTC in a report on Thursday, August 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Finally, Robert W. Baird boosted their target price on shares of PTC from $216.00 to $226.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.09.
Check Out Our Latest Analysis on PTC
Insider Activity
In related news, Director Robert Schechter sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total transaction of $858,650.00. Following the completion of the sale, the director now directly owns 59,616 shares in the company, valued at approximately $10,237,855.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Staats Aaron C. Von sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value of $170,000.00. Following the transaction, the executive vice president now directly owns 13,902 shares of the company’s stock, valued at approximately $2,363,340. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Schechter sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total transaction of $858,650.00. Following the sale, the director now directly owns 59,616 shares of the company’s stock, valued at approximately $10,237,855.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,000 shares of company stock worth $1,714,010 over the last quarter. 1.17% of the stock is currently owned by corporate insiders.
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.
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