PTC Inc. (NASDAQ:PTC) Shares Acquired by KBC Group NV

KBC Group NV increased its holdings in PTC Inc. (NASDAQ:PTC) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 228,386 shares of the technology company’s stock after acquiring an additional 4,712 shares during the quarter. KBC Group NV owned approximately 0.19% of PTC worth $41,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. First Horizon Advisors Inc. increased its stake in PTC by 77.5% in the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after purchasing an additional 62 shares during the period. Blue Trust Inc. raised its stake in PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the last quarter. Rothschild Investment LLC acquired a new stake in PTC during the 2nd quarter worth approximately $29,000. International Assets Investment Management LLC purchased a new position in shares of PTC in the 2nd quarter valued at approximately $30,000. Finally, OFI Invest Asset Management acquired a new position in shares of PTC in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Stock Performance

NASDAQ:PTC opened at $191.11 on Friday. PTC Inc. has a 1 year low of $151.73 and a 1 year high of $199.48. The company has a current ratio of 1.45, a quick ratio of 0.70 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $22.96 billion, a PE ratio of 61.45, a PEG ratio of 2.62 and a beta of 1.17. The firm’s fifty day simple moving average is $181.18 and its 200 day simple moving average is $178.57.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PTC. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and lowered their price objective for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Piper Sandler upped their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird upped their price target on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Finally, Royal Bank of Canada raised their price objective on PTC from $202.00 to $230.00 and gave the stock 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, PTC currently has a consensus rating of “Moderate Buy” and a consensus target price 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.