Victory Capital Management Inc. Increases Position in PTC Inc. (NASDAQ:PTC)

Victory Capital Management Inc. grew its stake in PTC Inc. (NASDAQ:PTC) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,656 shares of the technology company’s stock after acquiring an additional 988 shares during the quarter. Victory Capital Management Inc. owned about 0.07% of PTC worth $14,752,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PTC. US Bancorp DE grew its stake in PTC by 67.7% during the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock valued at $2,559,000 after purchasing an additional 5,717 shares during the last quarter. Swedbank AB acquired a new position in shares of PTC during the first quarter valued at approximately $9,849,000. CWM LLC raised its holdings in shares of PTC by 112.0% during the second quarter. CWM LLC now owns 7,189 shares of the technology company’s stock valued at $1,306,000 after acquiring an additional 3,798 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of PTC by 22.2% during the first quarter. Advisors Asset Management Inc. now owns 4,444 shares of the technology company’s stock valued at $840,000 after acquiring an additional 807 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of PTC by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 875,282 shares of the technology company’s stock valued at $165,377,000 after acquiring an additional 40,462 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada upped 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. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and decreased their price target for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Piper Sandler increased their price objective on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird increased their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and a consensus price target of $204.83.

PTC Stock Performance

NASDAQ PTC opened at $189.27 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a 52-week low of $152.68 and a 52-week high of $199.48. The business’s 50-day moving average price is $182.57 and its 200 day moving average price is $178.89. The firm has a market cap of $22.74 billion, a P/E ratio of 60.86, a P/E/G ratio of 2.57 and a beta of 1.17.

About PTC

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.