Los Angeles Capital Management LLC Invests $269,000 in PTC Inc. (NASDAQ:PTC)

Los Angeles Capital Management LLC purchased a new stake in shares of PTC Inc. (NASDAQ:PTC) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,487 shares of the technology company’s stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PTC. First Horizon Advisors Inc. lifted its position in shares of PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after purchasing an additional 62 shares during the last quarter. Blue Trust Inc. increased its position in shares of PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after acquiring an additional 122 shares during the period. Rothschild Investment LLC purchased a new stake in shares of PTC in the second quarter valued at approximately $29,000. International Assets Investment Management LLC bought a new stake in PTC during the 2nd quarter valued at $30,000. Finally, OFI Invest Asset Management bought a new position in shares of PTC during the 2nd quarter worth $31,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Stock Performance

PTC opened at $189.26 on Tuesday. The firm’s 50-day moving average price is $182.14 and its 200-day moving average price is $178.76. The company has a market cap of $22.74 billion, a P/E ratio of 61.10, a price-to-earnings-growth ratio of 2.57 and a beta of 1.17. PTC Inc. has a 52-week low of $152.68 and a 52-week high of $199.48. The company has a quick ratio of 0.70, a current ratio of 1.45 and a debt-to-equity ratio of 0.54.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PTC. Piper Sandler increased their target price on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird upped their target price on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and dropped their target price for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Finally, StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, PTC has an average rating of “Moderate Buy” and an average price target of $204.83.

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.