Portside Wealth Group LLC Purchases 1,887 Shares of PTC Inc. (NASDAQ:PTC)

Portside Wealth Group LLC raised its position in shares of PTC Inc. (NASDAQ:PTC) by 138.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,249 shares of the technology company’s stock after acquiring an additional 1,887 shares during the quarter. Portside Wealth Group LLC’s holdings in PTC were worth $587,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PTC. Intech Investment Management LLC grew its stake in PTC by 180.8% during the first quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock worth $5,115,000 after purchasing an additional 17,430 shares during the period. Swedbank AB acquired a new stake in shares of PTC during the 1st quarter worth approximately $9,849,000. US Bancorp DE lifted its position in shares of PTC by 67.7% during the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock valued at $2,559,000 after acquiring an additional 5,717 shares during the period. TD Asset Management Inc lifted its position in shares of PTC by 5.9% during the 1st quarter. TD Asset Management Inc now owns 437,643 shares of the technology company’s stock valued at $82,688,000 after acquiring an additional 24,372 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its stake in PTC by 234.0% during the first quarter. Illinois Municipal Retirement Fund now owns 34,847 shares of the technology company’s stock worth $6,584,000 after acquiring an additional 24,415 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

Insider Activity at PTC

In other PTC news, Director Janice Chaffin sold 4,000 shares of the business’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 owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PTC. Piper Sandler upped their price objective on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday. Robert W. Baird increased their price target on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a report on Friday. Finally, Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and reduced their price target for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.83.

PTC Stock Performance

NASDAQ PTC opened at $192.83 on Friday. The company has a fifty day moving average price of $180.03 and a 200-day moving average price of $178.31. The firm has a market cap of $23.17 billion, a price-to-earnings ratio of 62.00, a PEG ratio of 2.91 and a beta of 1.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. PTC Inc. has a 1 year low of $148.01 and a 1 year high of $199.48.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.11. PTC had a net margin of 16.37% and a return on equity of 14.99%. The business had revenue of $626.55 million during the quarter, compared to the consensus estimate of $620.49 million. As a group, equities research analysts predict that PTC Inc. will post 4.47 EPS for the current fiscal year.

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.