Parnassus Investments LLC Raises Stock Position in PTC Inc. (NASDAQ:PTC)

Parnassus Investments LLC increased its position in shares of PTC Inc. (NASDAQ:PTC) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,226 shares of the technology company’s stock after acquiring an additional 398 shares during the quarter. Parnassus Investments LLC’s holdings in PTC were worth $17,926,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its position in shares of PTC by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock worth $1,865,000 after purchasing an additional 61 shares in the last quarter. Diversified Trust Co grew its stake in PTC by 2.9% during the 2nd quarter. Diversified Trust Co now owns 2,193 shares of the technology company’s stock worth $398,000 after buying an additional 62 shares during the last quarter. First Horizon Advisors Inc. increased its position in PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after buying an additional 62 shares in the last quarter. IFM Investors Pty Ltd raised its stake in PTC by 0.3% in the third quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock valued at $4,690,000 after buying an additional 66 shares during the last quarter. Finally, Metis Global Partners LLC boosted its holdings in PTC by 1.1% in the third quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company’s stock worth $1,202,000 after acquiring an additional 73 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PTC has been the topic of several recent analyst reports. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Piper Sandler raised their price target on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and cut their target price for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Finally, Robert W. Baird lifted their price target on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $204.83.

PTC Trading Down 0.4 %

PTC stock opened at $189.26 on Tuesday. The firm has a market cap of $22.74 billion, a PE ratio of 60.86, a P/E/G ratio of 2.57 and a beta of 1.17. PTC Inc. has a 12 month low of $152.68 and a 12 month high of $199.48. The stock’s 50 day simple moving average is $182.57 and its two-hundred day simple moving average is $178.89. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38.

PTC Company 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.