Ascent Group LLC Sells 674 Shares of PTC Inc. (NASDAQ:PTC)

Ascent Group LLC reduced its position in PTC Inc. (NASDAQ:PTC) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,735 shares of the technology company’s stock after selling 674 shares during the quarter. Ascent Group LLC’s holdings in PTC were worth $2,481,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Fernbridge Capital Management LP raised its holdings in shares of PTC by 83.7% in the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after acquiring an additional 650,990 shares in the last quarter. Impax Asset Management Group plc grew its stake in PTC by 4.4% in the second quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock valued at $206,091,000 after purchasing an additional 48,553 shares during the last quarter. Liontrust Investment Partners LLP grew its stake in PTC by 1.0% in the second quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company’s stock valued at $182,383,000 after purchasing an additional 10,338 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in PTC by 19.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after purchasing an additional 150,652 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in PTC by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 783,077 shares of the technology company’s stock valued at $141,471,000 after purchasing an additional 32,343 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

PTC Trading Down 0.3 %

PTC stock opened at $199.38 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a 52 week low of $157.72 and a 52 week high of $201.66. The company has a market capitalization of $23.95 billion, a price-to-earnings ratio of 64.11, a price-to-earnings-growth ratio of 2.71 and a beta of 1.16. The stock has a 50-day moving average price of $187.15 and a 200 day moving average price of $180.07.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Piper Sandler lifted their target price on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 target price on shares of PTC in a research note on Thursday, October 10th. Royal Bank of Canada lifted 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. JPMorgan Chase & Co. boosted their price target on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.67.

Insider Buying and Selling

In other PTC news, Director Corinna Lathan sold 860 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the transaction, the director now directly owns 6,843 shares of the company’s stock, valued at approximately $1,368,600. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the transaction, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.17% of the company’s stock.

PTC 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.