Massachusetts Financial Services Co. MA Increases Holdings in PTC Inc. (NASDAQ:PTC)

Massachusetts Financial Services Co. MA raised its stake in PTC Inc. (NASDAQ:PTC) by 19.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 924,456 shares of the technology company’s stock after purchasing an additional 150,652 shares during the period. Massachusetts Financial Services Co. MA’s holdings in PTC were worth $167,012,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PTC. First Horizon Advisors Inc. grew its position in shares of 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 buying an additional 62 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of PTC during the second quarter worth about $29,000. International Assets Investment Management LLC purchased a new stake in shares of PTC in the 2nd quarter valued at about $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of PTC in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PTC. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Robert W. Baird increased their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and dropped their price objective for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Piper Sandler increased their target price on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $195.00 price target on shares of PTC in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.83.

PTC Stock Up 2.5 %

PTC opened at $197.64 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. PTC Inc. has a 12 month low of $153.11 and a 12 month high of $199.48. The stock has a market capitalization 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 business has a 50 day simple moving average of $183.85 and a 200-day simple moving average of $179.15.

Insiders Place Their Bets

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 transaction of $329,019.60. Following the transaction, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. This represents a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.17% of the stock is currently 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.