Advisors Asset Management Inc. Purchases 654 Shares of PTC Inc. (NASDAQ:PTC)

Advisors Asset Management Inc. raised its holdings in PTC Inc. (NASDAQ:PTC) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,335 shares of the technology company’s stock after acquiring an additional 654 shares during the quarter. Advisors Asset Management Inc.’s holdings in PTC were worth $1,325,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. US Bancorp DE grew its holdings in PTC by 67.7% during the 3rd 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 in the last quarter. Swedbank AB purchased a new position in PTC during the first quarter valued at approximately $9,849,000. KBC Group NV raised its stake in PTC by 2.1% in the third quarter. KBC Group NV now owns 228,386 shares of the technology company’s stock worth $41,260,000 after buying an additional 4,712 shares in the last quarter. CWM LLC lifted its holdings in PTC by 112.0% during the second quarter. CWM LLC now owns 7,189 shares of the technology company’s stock worth $1,306,000 after buying an additional 3,798 shares during the period. Finally, Principal Financial Group Inc. boosted its position in PTC by 3.8% during the 3rd quarter. Principal Financial Group Inc. now owns 149,071 shares of the technology company’s stock valued at $26,931,000 after acquiring an additional 5,403 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

PTC Stock Up 1.5 %

Shares of NASDAQ:PTC opened at $200.59 on Tuesday. PTC Inc. has a 52-week low of $153.44 and a 52-week high of $201.66. The stock has a market cap of $24.10 billion, a P/E ratio of 64.50, a PEG ratio of 2.68 and a beta of 1.17. The business has a fifty day moving average of $184.90 and a two-hundred day moving average of $179.44. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38.

Insider Activity at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the transaction, the chief accounting officer now owns 830 shares of the company’s stock, valued at $160,356. This represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on PTC. Berenberg Bank lowered 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. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Piper Sandler increased their price target on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird raised their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, PTC currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.83.

About PTC

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.