Franklin Resources Inc. Raises Holdings in PTC Inc. (NASDAQ:PTC)

Franklin Resources Inc. grew its holdings in PTC Inc. (NASDAQ:PTC) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,096,837 shares of the technology company’s stock after purchasing an additional 30,525 shares during the period. Franklin Resources Inc. owned about 0.91% of PTC worth $203,463,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its position in PTC by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock worth $1,865,000 after buying an additional 61 shares during the last quarter. First Horizon Advisors Inc. raised its holdings 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 valued at $26,000 after purchasing an additional 62 shares during the last quarter. IFM Investors Pty Ltd lifted its position in PTC by 0.3% during the third quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock valued at $4,690,000 after purchasing an additional 66 shares during the period. Metis Global Partners LLC boosted its holdings in PTC by 1.1% in the third quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company’s stock worth $1,202,000 after purchasing an additional 73 shares during the last quarter. Finally, Signaturefd LLC grew its position in PTC by 9.3% in the 3rd quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock worth $162,000 after purchasing an additional 76 shares during the period. 95.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. 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. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and reduced their price target for the company from $210.00 to $196.00 in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. 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 analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, PTC presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.67.

Insider Buying and Selling

In other news, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the transaction, the chief accounting officer now owns 830 shares in the company, valued at $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Staats Aaron C. Von sold 5,373 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the sale, the executive vice president now owns 21,707 shares in the company, valued at $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,242 shares of company stock worth $3,630,716. 1.17% of the stock is owned by corporate insiders.

PTC Trading Down 1.3 %

Shares of PTC stock opened at $198.68 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a fifty day simple moving average of $191.05 and a two-hundred day simple moving average of $181.17. The firm has a market capitalization of $23.87 billion, a PE ratio of 63.88, a PEG ratio of 2.74 and a beta of 1.16. PTC Inc. has a 52-week low of $163.30 and a 52-week high of $203.09.

PTC Company 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.