Russell Investments Group Ltd. Boosts Stock Position in PTC Inc. (NASDAQ:PTC)

Russell Investments Group Ltd. raised its position in shares of PTC Inc. (NASDAQ:PTC) by 9.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 53,433 shares of the technology company’s stock after buying an additional 4,728 shares during the quarter. Russell Investments Group Ltd.’s holdings in PTC were worth $9,353,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PTC. Lindbrook Capital LLC increased its position in PTC by 108.3% during the 4th quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock valued at $31,000 after buying an additional 91 shares in the last quarter. Resources Management Corp CT ADV raised its position in shares of PTC by 4,285.7% in the 3rd quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock valued at $43,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of PTC in the 4th quarter valued at approximately $124,000. Delta Capital Management LLC acquired a new stake in PTC in the 4th quarter worth approximately $205,000. Finally, Lincoln National Corp purchased a new stake in PTC during the 3rd quarter worth approximately $207,000. 95.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price objective on shares of PTC in a research note on Friday, April 12th. Robert W. Baird increased their price objective on PTC from $210.00 to $216.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Oppenheimer lifted their target price on PTC from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. BMO Capital Markets increased their price target on shares of PTC from $195.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, Mizuho decreased their price objective on shares of PTC from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.64.

PTC Stock Performance

PTC opened at $178.22 on Tuesday. The firm has a fifty day moving average price of $183.23 and a 200 day moving average price of $171.80. PTC Inc. has a 1 year low of $127.89 and a 1 year high of $194.24. The stock has a market cap of $21.31 billion, a P/E ratio of 74.57, a P/E/G ratio of 3.48 and a beta of 1.19. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.32 and a quick ratio of 1.19.

Insider Buying and Selling at PTC

In other news, insider Catherine Kniker sold 1,330 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $179.59, for a total transaction of $238,854.70. Following the sale, the insider now directly owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.17% of the stock is owned by corporate insiders.

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.