PTC Inc. (NASDAQ:PTC) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its position in shares of PTC Inc. (NASDAQ:PTC) by 86.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,132 shares of the technology company’s stock after acquiring an additional 22,826 shares during the period. Daiwa Securities Group Inc.’s holdings in PTC were worth $8,876,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Congress Asset Management Co. increased its position in shares of PTC by 767.8% in the 3rd quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock valued at $119,746,000 after purchasing an additional 586,443 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in PTC by 66.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock valued at $140,577,000 after buying an additional 310,092 shares during the last quarter. Railway Pension Investments Ltd acquired a new stake in PTC in the second quarter valued at $24,416,000. Van Lanschot Kempen Investment Management N.V. lifted its holdings in PTC by 13.2% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 768,810 shares of the technology company’s stock worth $139,670,000 after buying an additional 89,678 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of PTC by 46.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 253,149 shares of the technology company’s stock valued at $45,990,000 after acquiring an additional 79,855 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PTC. Robert W. Baird lifted their price target on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and lowered their target price for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Piper Sandler boosted their target price on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada lifted their price objective on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.83.

PTC Trading Up 1.5 %

Shares of PTC opened at $200.59 on Tuesday. The company has a market capitalization of $24.10 billion, a PE ratio of 64.50, a price-to-earnings-growth ratio of 2.68 and a beta of 1.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. PTC Inc. has a fifty-two week low of $153.44 and a fifty-two week high of $201.66. The stock has a fifty day moving average of $184.90 and a two-hundred day moving average of $179.44.

Insider Activity

In related news, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at approximately $160,356. This trade represents a 67.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.17% of the company’s stock.

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.