Impax Asset Management Group plc Reduces Stake in PTC Inc. (NASDAQ:PTC)

Impax Asset Management Group plc lowered its holdings in PTC Inc. (NASDAQ:PTC) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,105,972 shares of the technology company’s stock after selling 35,810 shares during the quarter. Impax Asset Management Group plc’s holdings in PTC were worth $198,426,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PTC. Congress Asset Management Co. lifted its holdings in PTC by 767.8% in the 3rd quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock worth $119,746,000 after buying an additional 586,443 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of PTC by 66.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after acquiring an additional 310,092 shares in the last quarter. Matrix Capital Management Company LP bought a new position in shares of PTC in the 1st quarter worth approximately $56,076,000. Vanguard Group Inc. raised its position in shares of PTC by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock worth $2,596,209,000 after acquiring an additional 205,673 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new position in shares of PTC in the 1st quarter worth approximately $28,510,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PTC. Piper Sandler increased their target price on PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $202.00 target price on shares of PTC in a research report on Thursday, August 1st. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and reduced their price objective for the company from $210.00 to $196.00 in a research report on Friday. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.67.

Insider Transactions at PTC

In other news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the transaction, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.17% of the company’s stock.

PTC Stock Performance

Shares of PTC opened at $186.23 on Tuesday. The business’s fifty day simple moving average is $178.74 and its two-hundred day simple moving average is $177.89. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. PTC Inc. has a 12 month low of $146.63 and a 12 month high of $194.24. The company has a market cap of $22.37 billion, a price-to-earnings ratio of 76.01, a P/E/G ratio of 2.72 and a beta of 1.17.

PTC Company 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.