PTC Inc. (NASDAQ:PTC) Holdings Raised by Fernbridge Capital Management LP

Fernbridge Capital Management LP boosted its position in PTC Inc. (NASDAQ:PTC) by 83.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,429,005 shares of the technology company’s stock after purchasing an additional 650,990 shares during the period. PTC comprises 15.8% of Fernbridge Capital Management LP’s investment portfolio, making the stock its 2nd biggest position. Fernbridge Capital Management LP owned approximately 1.19% of PTC worth $258,164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PTC. Congress Asset Management Co. grew its position in shares of PTC by 767.8% in the third 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 raised its holdings in shares of PTC by 66.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after acquiring an additional 310,092 shares during the last quarter. Railway Pension Investments Ltd purchased a new stake in PTC during the 2nd quarter worth about $24,416,000. BNP Paribas Financial Markets raised its stake in PTC by 103.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 185,050 shares of the technology company’s stock valued at $33,431,000 after purchasing an additional 94,046 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. lifted its holdings in PTC by 13.2% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 768,810 shares of the technology company’s stock valued at $139,670,000 after purchasing an additional 89,678 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

PTC Stock Performance

Shares of PTC stock opened at $199.26 on Wednesday. The firm’s 50-day simple moving average is $185.37 and its 200-day simple moving average is $179.58. PTC Inc. has a 1 year low of $153.44 and a 1 year high of $201.66. The firm has a market cap of $23.94 billion, a PE ratio of 64.07, a price-to-earnings-growth ratio of 2.72 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.

Analyst Upgrades and Downgrades

PTC has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective 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. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and reduced their price target for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Piper Sandler raised their price objective on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 target price on shares of PTC in a research note on Thursday, October 10th. Finally, StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $204.83.

Insiders Place Their Bets

In other news, CAO Alice Christenson sold 1,703 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the sale, the chief accounting officer now owns 830 shares in the company, valued at $160,356. This represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.17% of the stock is owned by corporate 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.