PTC Inc. (NASDAQ:PTC) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC increased its stake in PTC Inc. (NASDAQ:PTC) by 1.1% in the third quarter, HoldingsChannel.com reports. The firm owned 6,655 shares of the technology company’s stock after acquiring an additional 73 shares during the quarter. Metis Global Partners LLC’s holdings in PTC were worth $1,202,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Congress Asset Management Co. boosted its stake in shares of PTC by 767.8% during the 3rd quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock worth $119,746,000 after acquiring an additional 586,443 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in PTC by 66.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after purchasing an additional 310,092 shares in the last quarter. Matrix Capital Management Company LP acquired a new stake in PTC in the first quarter valued at $56,076,000. Vanguard Group Inc. increased its position in shares of PTC by 1.5% in the first quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock valued at $2,596,209,000 after buying an additional 205,673 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new position in shares of PTC during the 1st quarter worth $28,510,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on PTC shares. Royal Bank of Canada raised their target price on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and lowered their target price for the company from $210.00 to $196.00 in a report on Friday, November 1st. Robert W. Baird boosted their price target on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Piper Sandler increased their price objective on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.83.

PTC Stock Performance

NASDAQ PTC opened at $190.01 on Friday. The business’s 50-day moving average price is $182.14 and its 200 day moving average price is $178.72. The company has a current ratio of 1.45, a quick ratio of 0.70 and a debt-to-equity ratio of 0.54. PTC Inc. has a twelve month low of $151.73 and a twelve month high of $199.48. The company has a market capitalization of $22.83 billion, a PE ratio of 61.10, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17.

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.