13,680 Shares of PTC Inc. $PTC Purchased by VCI Wealth Management LLC

VCI Wealth Management LLC acquired a new position in shares of PTC Inc. (NASDAQ:PTC) during the 3rd quarter, Holdings Channel reports. The fund acquired 13,680 shares of the technology company’s stock, valued at approximately $1,919,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of PTC by 10.2% in the 2nd quarter. State Street Corp now owns 6,452,323 shares of the technology company’s stock worth $733,048,000 after purchasing an additional 596,955 shares during the period. Janus Henderson Group PLC grew its holdings in shares of PTC by 0.3% in the first quarter. Janus Henderson Group PLC now owns 3,530,070 shares of the technology company’s stock worth $503,000,000 after purchasing an additional 11,278 shares during the last quarter. Jupiter Topco LLC purchased a new position in shares of PTC during the second quarter worth approximately $418,553,000. Amundi boosted its holdings in shares of PTC by 151.9% in the first quarter. Amundi now owns 1,725,555 shares of the technology company’s stock valued at $245,885,000 after purchasing an additional 1,040,656 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in PTC by 52.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,228,905 shares of the technology company’s stock worth $172,415,000 after purchasing an additional 423,096 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Insider Activity at PTC

In other news, Director Corinna Lathan sold 1,750 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $195.75, for a total value of $342,562.50. Following the completion of the sale, the director owned 6,679 shares of the company’s stock, valued at $1,307,414.25. This trade represents a 20.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

PTC Stock Performance

Shares of PTC stock opened at $194.31 on Tuesday. The company has a 50-day simple moving average of $163.72 and a two-hundred day simple moving average of $147.52. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.03. PTC Inc. has a one year low of $108.50 and a one year high of $198.76. The company has a market capitalization of $21.08 billion, a PE ratio of 18.79, a P/E/G ratio of 2.56 and a beta of 0.99.

Analysts Set New Price Targets

PTC has been the topic of several research reports. Rosenblatt Securities downgraded PTC from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $190.00 to $205.00 in a report on Monday, October 5th. Robert W. Baird cut PTC from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Mizuho upped their target price on PTC from $160.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 6th. Stifel Nicolaus set a $205.00 price target on PTC in a research note on Monday, October 5th. Finally, JPMorgan Chase & Co. upgraded PTC from an “underweight” rating to a “neutral” rating and raised their price target for the company from $145.00 to $205.00 in a research note on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $200.06.

PTC Profile

PTC Inc (NASDAQ: PTC) develops software that helps manufacturers and other industrial companies design, manage, and optimize products and production processes. Its portfolio supports computer-aided design, product lifecycle management, digital manufacturing, and industrial Internet of Things initiatives.

The company’s products include Creo for 3D computer-aided design and engineering, Windchill for product lifecycle management, and Codebeamer for application lifecycle management. PTC also offers ThingWorx for industrial connectivity and IoT applications, Kepware for industrial automation connectivity, and Vuforia for augmented reality solutions.

Founded in 1985, PTC serves customers globally across industries such as automotive, aerospace and defense, industrial equipment, electronics, and life sciences.