Charles Schwab Investment Management Inc. Reduces Stock Holdings in PTC Inc. (NASDAQ:PTC)

Charles Schwab Investment Management Inc. cut its holdings in shares of PTC Inc. (NASDAQ:PTC) by 28.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 785,731 shares of the technology company’s stock after selling 310,692 shares during the period. Charles Schwab Investment Management Inc. owned about 0.65% of PTC worth $141,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PTC. First Horizon Advisors Inc. increased its holdings in shares of PTC by 77.5% during the 2nd 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 in the last quarter. Blue Trust Inc. increased its holdings in PTC by 762.5% in the second 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. Rothschild Investment LLC acquired a new position in shares of PTC in the second quarter worth about $29,000. International Assets Investment Management LLC purchased a new stake in shares of PTC during the 2nd quarter worth about $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of PTC during the 2nd quarter valued at about $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 company’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 transaction, the chief accounting officer now directly owns 830 shares in the company, valued at $160,356. This represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.17% of the stock is currently owned by insiders.

PTC Stock Performance

NASDAQ PTC opened at $197.64 on Monday. The stock has a fifty day simple moving average of $184.36 and a 200-day simple moving average of $179.29. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The stock has a market cap of $23.74 billion, a PE ratio of 63.55, a P/E/G ratio of 2.61 and a beta of 1.17. PTC Inc. has a twelve month low of $153.11 and a twelve month high of $199.48.

Wall Street Analyst Weigh In

PTC has been the subject of several research analyst reports. Piper Sandler upped their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their price target on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.83.

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.