PTC Inc. (NASDAQ:PTC) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. lessened its stake in shares of PTC Inc. (NASDAQ:PTC) by 8.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 654,561 shares of the technology company’s stock after selling 60,022 shares during the quarter. Eagle Asset Management Inc.’s holdings in PTC were worth $126,219,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several analysts have commented on PTC shares. Royal Bank of Canada upped their price objective on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Robert W. Baird lifted their price objective on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Finally, Piper Sandler raised their target price on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.83.

PTC Stock Performance

Shares of PTC opened at $192.95 on Friday. 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 $152.68 and a 52-week high of $199.48. The company has a 50-day simple moving average of $183.41 and a 200-day simple moving average of $179.05. The company has a market capitalization of $23.18 billion, a PE ratio of 62.04, a P/E/G ratio of 2.56 and a beta of 1.17.

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.