Eagle Asset Management Inc. Cuts Stake in PTC Inc. (NASDAQ:PTC)

Eagle Asset Management Inc. lessened its holdings in shares of PTC Inc. (NASDAQ:PTC) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 654,561 shares of the technology company’s stock after selling 60,022 shares during the period. Eagle Asset Management Inc. owned approximately 0.54% of PTC worth $126,219,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. US Bancorp DE grew its position in PTC by 67.7% during the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after purchasing an additional 5,717 shares during the last quarter. Swedbank AB acquired a new position in shares of PTC in the 1st quarter valued at $9,849,000. KBC Group NV lifted its position in PTC by 2.1% during the 3rd quarter. KBC Group NV now owns 228,386 shares of the technology company’s stock worth $41,260,000 after acquiring an additional 4,712 shares during the period. CWM LLC raised its stake in shares of PTC by 112.0% in the second quarter. CWM LLC now owns 7,189 shares of the technology company’s stock worth $1,306,000 after purchasing an additional 3,798 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of PTC by 22.2% in the first quarter. Advisors Asset Management Inc. now owns 4,444 shares of the technology company’s stock worth $840,000 after purchasing an additional 807 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Stock Up 2.4 %

Shares of NASDAQ:PTC opened at $192.95 on Friday. The firm has a market capitalization of $23.18 billion, a PE ratio of 62.04, a price-to-earnings-growth ratio of 2.56 and a beta of 1.17. PTC Inc. has a 1 year low of $152.68 and a 1 year high of $199.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The firm’s 50-day moving average is $183.41 and its two-hundred day moving average is $179.05.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PTC shares. Rosenblatt Securities restated a “buy” rating and issued a $195.00 target price on shares of PTC in a research note on Thursday, October 10th. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Robert W. Baird upped their price objective on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Royal Bank of Canada raised their target price on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Piper Sandler increased their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $204.83.

About PTC

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.