PTC Inc. $PTC Shares Newly Bought by VCI Wealth Management LLC

Key Points

• VCI Wealth Management LLC initiated a 13,680-share position in PTC during the third quarter, valued at approximately $1.9 million. Other institutional investors also increased or initiated holdings, and institutions collectively own 95.14% of the stock.
• Analyst sentiment remains cautious: PTC has an average rating of “Hold” from MarketBeat, with two Buy ratings and 14 Hold ratings, and an average price target of $200.06.
• PTC shares opened at $194.31, near their 12-month high of $198.76, while director Corinna Lathan sold 1,750 shares for approximately $342,563. Corporate insiders own just 0.29% of the company.

VCI Wealth Management LLC bought a new position in PTC Inc. (NASDAQ:PTC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,680 shares of the technology company's stock, valued at approximately $1,919,000.

A number of other large investors have also made changes to their positions in PTC. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of PTC during the 3rd quarter valued at about $1,325,000. Nippon Life Global Investors Americas Inc. lifted its stake in shares of PTC by 6.2% in the 3rd quarter. Nippon Life Global Investors Americas Inc. now owns 10,740 shares of the technology company's stock worth $1,507,000 after purchasing an additional 630 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of 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 buying an additional 423,096 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of PTC in the third quarter worth approximately $4,246,000. Finally, Vise Technologies Inc. bought a new stake in PTC during the third quarter valued at approximately $316,000. 95.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Stifel Nicolaus set a $205.00 target price on shares of PTC in a report on Monday, October 5th. Citigroup lifted their price target on shares of PTC from $141.00 to $205.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft cut shares of PTC to a "hold" rating and set a $205.00 price target on the stock. in a research note on Monday, October 5th. Royal Bank Of Canada downgraded shares of PTC from a "buy" rating to a "sector perform" rating and boosted their price objective for the company from $195.00 to $306.00 in a research report on Monday, October 5th. Finally, Weiss Ratings upgraded PTC from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $200.06.

PTC Trading Down 0.6%

PTC stock opened at $194.31 on Tuesday. PTC Inc. has a 12-month low of $108.50 and a 12-month high of $198.76. The firm has a market capitalization of $21.08 billion, a price-to-earnings ratio of 18.79, a P/E/G ratio of 2.56 and a beta of 0.99. The firm has a 50 day moving average of $163.72 and a 200 day moving average of $147.52. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40.

Insiders Place Their Bets

In other PTC news, Director Corinna Lathan sold 1,750 shares of the company's stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $195.75, for a total value of $342,562.50. Following the completion of the transaction, the director directly owned 6,679 shares in the company, valued at $1,307,414.25. This represents a 20.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by corporate insiders.

About PTC

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.

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