Oppenheimer Asset Management Inc. Boosts Holdings in PTC Inc. (NASDAQ:PTC)

Oppenheimer Asset Management Inc. raised its stake in PTC Inc. (NASDAQ:PTC) by 236.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,524 shares of the technology company’s stock after acquiring an additional 8,798 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in PTC were worth $2,263,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

PTC has been the topic of several recent research reports. Rosenblatt Securities restated a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and cut their target price for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Robert W. Baird raised their price objective 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. Finally, Piper Sandler upped 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. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, PTC has a consensus rating of “Moderate Buy” and a consensus price target of $204.83.

PTC Stock Performance

NASDAQ PTC opened at $190.01 on Friday. PTC Inc. has a 52-week low of $151.73 and a 52-week high of $199.48. The company has a fifty day moving average of $182.14 and a 200-day moving average of $178.72. The company has a market capitalization of $22.83 billion, a P/E ratio of 61.10, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.70 and a current ratio of 1.45.

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.