Zurcher Kantonalbank Zurich Cantonalbank Has $20.42 Million Stock Holdings in PTC Inc. (NASDAQ:PTC)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of PTC Inc. (NASDAQ:PTC) by 39.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,047 shares of the technology company’s stock after selling 72,464 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.09% of PTC worth $20,423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after buying an additional 62 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of PTC in the second quarter worth about $29,000. International Assets Investment Management LLC bought a new stake in shares of PTC during the 2nd quarter worth about $30,000. Finally, OFI Invest Asset Management acquired a new position in shares of PTC during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PTC. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Robert W. Baird upped their price objective on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Piper Sandler upped their price target on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, PTC currently has a consensus rating of “Moderate Buy” and an average target price of $204.83.

Insider Buying and Selling

In related news, CAO Alice Christenson sold 1,703 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the transaction, the chief accounting officer now owns 830 shares of the company’s stock, valued at $160,356. This represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Corinna Lathan sold 860 shares of PTC stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $200.00, for a total value of $172,000.00. Following the sale, the director now directly owns 6,843 shares in the company, valued at $1,368,600. The trade was a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.17% of the stock is owned by company insiders.

PTC Price Performance

Shares of NASDAQ:PTC opened at $200.06 on Friday. The firm has a market capitalization of $24.03 billion, a PE ratio of 64.33, a PEG ratio of 2.69 and a beta of 1.17. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a 1-year low of $154.73 and a 1-year high of $201.66. The business’s 50 day moving average is $186.73 and its 200-day moving average is $179.99.

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.