CIBC Asset Management Inc Buys 1,377 Shares of PTC Inc. (NASDAQ:PTC)

CIBC Asset Management Inc raised its position in PTC Inc. (NASDAQ:PTC) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,494 shares of the technology company’s stock after acquiring an additional 1,377 shares during the period. CIBC Asset Management Inc’s holdings in PTC were worth $3,160,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PTC. Janney Montgomery Scott LLC acquired a new stake in shares of PTC during the 1st quarter valued at about $215,000. Acadian Asset Management LLC boosted its holdings in PTC by 74.7% during the first quarter. Acadian Asset Management LLC now owns 2,047 shares of the technology company’s stock valued at $385,000 after purchasing an additional 875 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of PTC by 22.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,449 shares of the technology company’s stock worth $841,000 after buying an additional 826 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of PTC during the 1st quarter worth approximately $28,510,000. Finally, Bessemer Group Inc. boosted its stake in PTC by 19.3% in the 1st quarter. Bessemer Group Inc. now owns 2,663 shares of the technology company’s stock valued at $504,000 after buying an additional 430 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

PTC Price Performance

Shares of PTC stock opened at $189.26 on Tuesday. The firm’s 50 day moving average price is $182.14 and its two-hundred day moving average price is $178.76. 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 52-week low of $152.68 and a 52-week high of $199.48. The stock has a market cap of $22.74 billion, a PE ratio of 60.86, a PEG ratio of 2.57 and a beta of 1.17.

Analysts Set New Price Targets

A number of research analysts have issued reports on PTC shares. Royal Bank of Canada lifted their price objective on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird boosted their price target on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Piper Sandler boosted their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and dropped their price target for the company from $210.00 to $196.00 in a report on Friday, November 1st. Four equities research 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $204.83.

PTC Company 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.