Commerce Bank Raises Holdings in PTC Inc. (NASDAQ:PTC)

Commerce Bank boosted its stake in shares of PTC Inc. (NASDAQ:PTC) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,404 shares of the technology company’s stock after buying an additional 2,792 shares during the quarter. Commerce Bank’s holdings in PTC were worth $8,564,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. First Horizon Advisors Inc. grew its stake 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 in the last quarter. Rothschild Investment LLC purchased a new position in PTC in the second quarter valued at $29,000. International Assets Investment Management LLC acquired a new stake in PTC in the second quarter valued at $30,000. Finally, OFI Invest Asset Management purchased a new stake in PTC during the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Trading Up 2.4 %

Shares of PTC opened at $192.95 on Friday. PTC Inc. has a twelve month low of $152.68 and a twelve month high of $199.48. The firm has a market capitalization of $23.18 billion, a P/E ratio of 62.04, a price-to-earnings-growth ratio of 2.56 and a beta of 1.17. 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’s fifty day simple moving average is $183.41 and its 200 day simple moving average is $179.05.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PTC. Robert W. Baird raised their target price on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Rosenblatt Securities restated a “buy” rating and issued a $195.00 target price on shares of PTC in a report on Thursday, October 10th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and dropped their price target for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Finally, Piper Sandler upped their target price on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average 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.