Westfield Capital Management Co. LP Raises Stake in PTC Inc. (NASDAQ:PTC)

Westfield Capital Management Co. LP raised its position in shares of PTC Inc. (NASDAQ:PTC) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 650,151 shares of the technology company’s stock after purchasing an additional 11,923 shares during the quarter. Westfield Capital Management Co. LP owned 0.54% of PTC worth $117,456,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Swedbank AB lifted its holdings in shares of PTC by 5.4% in the third quarter. Swedbank AB now owns 61,829 shares of the technology company’s stock worth $11,170,000 after buying an additional 3,157 shares in the last quarter. Cerity Partners LLC lifted its stake in PTC by 51.3% in the 3rd quarter. Cerity Partners LLC now owns 5,768 shares of the technology company’s stock worth $1,042,000 after purchasing an additional 1,955 shares in the last quarter. Icon Wealth Advisors LLC boosted its holdings in shares of PTC by 408.8% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,048 shares of the technology company’s stock valued at $551,000 after purchasing an additional 2,449 shares during the last quarter. Citigroup Inc. grew its position in shares of PTC by 28.4% during the third quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock valued at $26,971,000 after purchasing an additional 32,984 shares in the last quarter. Finally, Otter Creek Advisors LLC increased its holdings in shares of PTC by 36.6% in the third quarter. Otter Creek Advisors LLC now owns 19,101 shares of the technology company’s stock worth $3,451,000 after purchasing an additional 5,122 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling

In related news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction that occurred 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 approximately $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on PTC. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 target price on shares of PTC in a report on Thursday, October 10th. Royal Bank of Canada upped their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird lifted their price objective 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. 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 research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, PTC currently has an average rating of “Moderate Buy” and an average price target of $204.83.

PTC Stock Performance

PTC stock 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 1-year low of $153.11 and a 1-year high of $199.48. The firm has a market capitalization of $23.74 billion, a P/E ratio of 63.55, a price-to-earnings-growth ratio of 2.61 and a beta of 1.17. The company’s 50-day moving average is $184.36 and its 200 day moving average is $179.29.

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.