ABN Amro Investment Solutions acquired a new position in shares of PTC Inc. (NASDAQ:PTC – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,811 shares of the technology company’s stock, valued at approximately $2,208,000.
Several other institutional investors have also added to or reduced their stakes in PTC. Motco bought a new position in PTC during the 1st quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in PTC during the first quarter worth $33,000. Zions Bancorporation National Association UT acquired a new position in PTC in the first quarter valued at $39,000. SVB Wealth LLC acquired a new position in PTC in the first quarter valued at $41,000. Finally, Assetmark Inc. boosted its position in PTC by 339.3% during the second quarter. Assetmark Inc. now owns 268 shares of the technology company’s stock valued at $46,000 after acquiring an additional 207 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.
PTC Trading Up 2.9%
PTC opened at $179.61 on Friday. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $219.69. The firm has a market capitalization of $21.52 billion, a PE ratio of 42.36, a P/E/G ratio of 1.90 and a beta of 1.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.89 and a quick ratio of 0.89. The company’s 50-day moving average is $199.07 and its 200 day moving average is $190.59.
Analysts Set New Price Targets
Several research analysts have recently weighed in on PTC shares. Oppenheimer lifted their price objective on PTC from $225.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Weiss Ratings lowered PTC from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Piper Sandler cut their price target on PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Cantor Fitzgerald set a $120.00 price objective on shares of PTC and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, Rosenblatt Securities cut their target price on shares of PTC from $227.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.92.
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.
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