PTC Inc. (NASDAQ:PTC) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC boosted its holdings in shares of PTC Inc. (NASDAQ:PTC) by 67.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,383 shares of the technology company’s stock after acquiring an additional 14,216 shares during the quarter. Townsquare Capital LLC’s holdings in PTC were worth $6,392,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Impax Asset Management Group plc lifted its holdings in shares of PTC by 4.4% in the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock worth $206,091,000 after acquiring an additional 48,553 shares during the last quarter. Liontrust Investment Partners LLP lifted its stake in PTC by 1.0% during the second quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company’s stock worth $182,383,000 after purchasing an additional 10,338 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of PTC by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock worth $167,012,000 after buying an additional 150,652 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of PTC by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 783,077 shares of the technology company’s stock valued at $141,471,000 after buying an additional 32,343 shares in the last quarter. Finally, Fernbridge Capital Management LP raised its holdings in shares of PTC by 6.3% in the 2nd quarter. Fernbridge Capital Management LP now owns 778,015 shares of the technology company’s stock valued at $141,342,000 after buying an additional 46,286 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Activity

In other PTC news, Director Corinna Lathan sold 860 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the sale, the director now owns 6,843 shares in the company, valued at approximately $1,368,600. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.17% of the company’s stock.

PTC Stock Performance

Shares of PTC opened at $199.01 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a 52-week low of $153.44 and a 52-week high of $201.66. The stock has a 50 day moving average price of $186.24 and a 200 day moving average price of $179.84. The company has a market capitalization of $23.91 billion, a price-to-earnings ratio of 63.99, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17.

Analysts Set New Price Targets

Several research firms have weighed in on PTC. Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Robert W. Baird increased their target price 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 boosted their price target on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Berenberg Bank cut 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 note on Friday, November 1st. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $204.83.

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.