Covestor Ltd Increases Position in PTC Inc. (NASDAQ:PTC)

Covestor Ltd increased its stake in shares of PTC Inc. (NASDAQ:PTC) by 70.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 193 shares of the technology company’s stock after purchasing an additional 80 shares during the period. Covestor Ltd’s holdings in PTC were worth $35,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. 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. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Robert W. Baird lifted their price objective on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and decreased their target price for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $204.83.

PTC Stock Down 0.6 %

PTC opened at $190.01 on Friday. The stock’s fifty day moving average is $181.63 and its 200-day moving average is $178.66. The company has a market capitalization of $22.83 billion, a PE ratio of 60.78, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.70 and a current ratio of 1.45. PTC Inc. has a one year low of $151.73 and a one year high of $199.48.

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.