Legacy Capital Wealth Partners LLC Purchases New Shares in PTC Inc. (NASDAQ:PTC)

Legacy Capital Wealth Partners LLC acquired a new position in PTC Inc. (NASDAQ:PTC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,669 shares of the technology company’s stock, valued at approximately $302,000.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in PTC by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock valued at $2,596,209,000 after acquiring an additional 205,673 shares during the period. Impax Asset Management Group plc grew its position in shares of PTC by 4.4% in the second quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock valued at $206,091,000 after purchasing an additional 48,553 shares during the period. Liontrust Investment Partners LLP increased its stake in shares of PTC by 1.0% during the second quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company’s stock worth $182,383,000 after purchasing an additional 10,338 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of PTC by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 875,282 shares of the technology company’s stock worth $165,377,000 after purchasing an additional 40,462 shares during the last quarter. Finally, Fernbridge Capital Management LP lifted its stake in PTC by 6.3% in the 2nd quarter. Fernbridge Capital Management LP now owns 778,015 shares of the technology company’s stock valued at $141,342,000 after buying an additional 46,286 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PTC has been the subject of several research reports. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Robert W. Baird increased their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada increased their target price on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and lowered their price target for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $204.83.

PTC Stock Performance

PTC stock opened at $194.09 on Tuesday. The firm has a 50 day simple moving average of $180.03 and a 200-day simple moving average of $178.28. The stock has a market cap of $23.32 billion, a price-to-earnings ratio of 63.30, a price-to-earnings-growth ratio of 2.83 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 0.70. PTC Inc. has a 1-year low of $151.50 and a 1-year high of $199.48.

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.