Quantbot Technologies LP Purchases New Shares in PTC Inc. (NASDAQ:PTC)

Quantbot Technologies LP purchased a new position in PTC Inc. (NASDAQ:PTC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,376 shares of the technology company’s stock, valued at approximately $3,681,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. California State Teachers Retirement System lifted its position in shares of PTC by 1.4% in the first quarter. California State Teachers Retirement System now owns 186,636 shares of the technology company’s stock valued at $35,263,000 after acquiring an additional 2,514 shares in the last quarter. Tidal Investments LLC lifted its holdings in PTC by 14.9% in the 1st quarter. Tidal Investments LLC now owns 12,836 shares of the technology company’s stock valued at $2,425,000 after purchasing an additional 1,667 shares in the last quarter. Comerica Bank boosted its stake in PTC by 0.6% during the 1st quarter. Comerica Bank now owns 103,973 shares of the technology company’s stock worth $19,645,000 after purchasing an additional 663 shares during the last quarter. iA Global Asset Management Inc. grew its holdings in shares of PTC by 189.0% during the first quarter. iA Global Asset Management Inc. now owns 4,347 shares of the technology company’s stock worth $821,000 after buying an additional 2,843 shares in the last quarter. Finally, Wahed Invest LLC grew its holdings in shares of PTC by 17.1% during the first quarter. Wahed Invest LLC now owns 2,287 shares of the technology company’s stock worth $432,000 after buying an additional 334 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Stock Performance

NASDAQ:PTC opened at $199.01 on Thursday. PTC Inc. has a fifty-two week low of $153.44 and a fifty-two week high of $201.66. 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 company has a 50 day moving average price of $185.84 and a 200 day moving average price of $179.71. The stock has a market capitalization of $23.91 billion, a P/E ratio of 63.99, a PEG ratio of 2.72 and a beta of 1.17.

Wall Street Analysts Forecast Growth

PTC has been the topic of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and set a $195.00 price target on shares of PTC in a research report on Thursday, October 10th. Robert W. Baird boosted their target price on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and dropped their price target for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Piper Sandler lifted their price objective on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada upped their target price on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.83.

Insiders Place Their Bets

In other PTC news, Director Corinna Lathan sold 860 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the sale, the director now directly owns 6,843 shares in the company, valued at $1,368,600. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were 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 directly owns 830 shares of the company’s stock, valued at approximately $160,356. The trade was a 67.23 % decrease in their position. The disclosure for this sale can be found here. 1.17% of the stock is owned by 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.