Victory Capital Management Inc. Increases Stock Position in PTC Inc. (NASDAQ:PTC)

Victory Capital Management Inc. grew its stake in shares of PTC Inc. (NASDAQ:PTC) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,656 shares of the technology company’s stock after acquiring an additional 988 shares during the period. Victory Capital Management Inc.’s holdings in PTC were worth $14,752,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. raised its position in shares of PTC by 4.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 783,077 shares of the technology company’s stock worth $141,471,000 after purchasing an additional 32,343 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of PTC during the 3rd quarter valued at $269,000. Legacy Capital Wealth Partners LLC purchased a new stake in shares of PTC during the 3rd quarter valued at $302,000. Covestor Ltd grew its stake in shares of PTC by 70.8% during the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after buying an additional 80 shares during the period. Finally, Atria Investments Inc grew its stake in shares of PTC by 33.8% during the 3rd quarter. Atria Investments Inc now owns 2,455 shares of the technology company’s stock valued at $444,000 after buying an additional 620 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Price Performance

NASDAQ PTC opened at $189.27 on Wednesday. PTC Inc. has a 52 week low of $152.68 and a 52 week high of $199.48. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The stock has a market cap of $22.74 billion, a price-to-earnings ratio of 60.86, a price-to-earnings-growth ratio of 2.57 and a beta of 1.17. The company has a 50-day moving average price of $182.57 and a two-hundred day moving average price of $178.89.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Piper Sandler boosted their price objective 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 boosted their price objective on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird upped their target price on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and cut their target price for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Four 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 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.