PTC Inc. (NASDAQ:PTC) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its position in PTC Inc. (NASDAQ:PTC) by 28.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 785,731 shares of the technology company’s stock after selling 310,692 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in PTC were worth $141,950,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. US Bancorp DE boosted its holdings in shares of PTC by 67.7% in the third quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock valued at $2,559,000 after acquiring an additional 5,717 shares during the period. Swedbank AB acquired a new stake in PTC during the 1st quarter worth $9,849,000. KBC Group NV grew its position in PTC by 2.1% during the 3rd quarter. KBC Group NV now owns 228,386 shares of the technology company’s stock worth $41,260,000 after purchasing an additional 4,712 shares during the last quarter. CWM LLC increased its stake in PTC by 112.0% in the second quarter. CWM LLC now owns 7,189 shares of the technology company’s stock valued at $1,306,000 after purchasing an additional 3,798 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of PTC by 22.2% in the first quarter. Advisors Asset Management Inc. now owns 4,444 shares of the technology company’s stock valued at $840,000 after buying an additional 807 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

PTC Stock Performance

PTC opened at $197.64 on Monday. PTC Inc. has a 1-year low of $153.11 and a 1-year high of $199.48. The stock has a market cap of $23.74 billion, a P/E ratio of 63.55, a P/E/G ratio of 2.61 and a beta of 1.17. The stock’s 50 day simple moving average is $184.36 and its 200 day simple moving average is $179.29. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 target price on shares of PTC in a report on Thursday, October 10th. Robert W. Baird increased 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 boosted 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. Finally, Royal Bank of Canada raised their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $204.83.

Insiders Place Their Bets

In other news, CAO Alice Christenson sold 1,703 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares in the company, valued at $160,356. This represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.17% of the stock is owned by company insiders.

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.