Moran Wealth Management LLC Sells 52,562 Shares of PTC Inc. (NASDAQ:PTC)

Moran Wealth Management LLC decreased its position in PTC Inc. (NASDAQ:PTC) by 71.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,888 shares of the technology company’s stock after selling 52,562 shares during the quarter. Moran Wealth Management LLC’s holdings in PTC were worth $3,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PTC. Congress Asset Management Co. lifted its position in PTC by 767.8% in the 3rd quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock worth $119,746,000 after buying an additional 586,443 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in PTC by 66.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock valued at $140,577,000 after purchasing an additional 310,092 shares during the last quarter. Matrix Capital Management Company LP bought a new stake in PTC in the first quarter valued at approximately $56,076,000. Railway Pension Investments Ltd bought a new stake in PTC in the second quarter valued at approximately $24,416,000. Finally, Van Lanschot Kempen Investment Management N.V. lifted its position in PTC by 13.2% in the second 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 during the last quarter. Institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PTC. Robert W. Baird boosted their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and reduced their target price for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Royal Bank of Canada boosted their target price on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $195.00 target price on shares of PTC in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, PTC has an average rating of “Moderate Buy” and a consensus price target of $204.83.

PTC Trading Down 0.4 %

PTC stock opened at $188.50 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $183.01 and its two-hundred day simple moving average is $178.98. PTC Inc. has a 12 month low of $152.68 and a 12 month high of $199.48. The company has a market capitalization of $22.64 billion, a price-to-earnings ratio of 60.61, a price-to-earnings-growth ratio of 2.56 and a beta of 1.17.

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.