Crossmark Global Holdings Inc. Cuts Position in PTC Inc. (NASDAQ:PTC)

Crossmark Global Holdings Inc. reduced its stake in shares of PTC Inc. (NASDAQ:PTC) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,819 shares of the technology company’s stock after selling 432 shares during the period. Crossmark Global Holdings Inc.’s holdings in PTC were worth $1,413,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC grew its position 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 buying an additional 17,430 shares during the period. US Bancorp DE raised its position in PTC by 67.7% during the third quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after acquiring an additional 5,717 shares during the last quarter. Swedbank AB purchased a new stake in shares of PTC in the first quarter valued at about $9,849,000. TD Asset Management Inc increased its stake 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 worth $82,688,000 after purchasing an additional 24,372 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in PTC during the 1st quarter valued at $2,595,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PTC. 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. 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 research note on Thursday, November 7th. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and lowered their target price for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price target on shares of PTC in a report on Thursday, October 10th. Finally, Royal Bank of Canada raised their price objective on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and an average price target of $204.83.

PTC Stock Performance

PTC stock opened at $193.46 on Thursday. The stock’s 50-day moving average is $180.72 and its 200-day moving average is $178.46. The company has a market cap of $23.24 billion, a price-to-earnings ratio of 62.21, a price-to-earnings-growth ratio of 2.61 and a beta of 1.17. PTC Inc. has a 12 month low of $151.73 and a 12 month high of $199.48. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 0.70.

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.