PTC Inc. (NASDAQ:PTC) Stake Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of PTC Inc. (NASDAQ:PTC) by 33.7% during the third quarter, Holdings Channel reports. The firm owned 537,989 shares of the technology company’s stock after buying an additional 135,677 shares during the period. JPMorgan Chase & Co.’s holdings in PTC were worth $97,193,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund lifted its stake in PTC by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock valued at $1,865,000 after buying an additional 61 shares during the last quarter. IFM Investors Pty Ltd lifted its position in PTC by 0.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock valued at $4,690,000 after purchasing an additional 66 shares during the last quarter. Metis Global Partners LLC boosted its stake in PTC by 1.1% during the 3rd quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company’s stock valued at $1,202,000 after purchasing an additional 73 shares during the period. Signaturefd LLC grew its position in PTC by 9.3% in the 3rd quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock worth $162,000 after purchasing an additional 76 shares during the last quarter. Finally, Equitable Trust Co. increased its stake in shares of PTC by 2.2% in the third quarter. Equitable Trust Co. now owns 3,602 shares of the technology company’s stock valued at $651,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Robert W. Baird increased their price objective on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Stifel Nicolaus upped their price objective on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Piper Sandler increased 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. Finally, Royal Bank of Canada upped their price target on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.54.

Insider Buying and Selling at PTC

In related news, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were 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 directly owns 830 shares in the company, valued at approximately $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Corinna Lathan sold 860 shares of PTC stock in a transaction on Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the sale, the director now directly owns 6,843 shares of the company’s stock, valued at $1,368,600. This trade represents a 11.16 % 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 valued at $3,630,716 in the last three months. 1.17% of the stock is currently owned by company insiders.

PTC Price Performance

PTC stock opened at $183.01 on Friday. PTC Inc. has a one year low of $163.30 and a one year high of $203.09. The firm has a 50-day moving average of $192.40 and a two-hundred day moving average of $182.40. The firm has a market capitalization of $21.98 billion, a PE ratio of 58.85, a P/E/G ratio of 2.70 and a beta of 1.16. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38.

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.