FORA Capital LLC Increases Stock Holdings in PTC Inc. (NASDAQ:PTC)

FORA Capital LLC grew its holdings in shares of PTC Inc. (NASDAQ:PTC) by 80.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,193 shares of the technology company’s stock after purchasing an additional 10,779 shares during the period. FORA Capital LLC’s holdings in PTC were worth $4,371,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. US Bancorp DE grew its stake in PTC by 67.7% during the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after purchasing an additional 5,717 shares in the last quarter. Swedbank AB acquired a new position in shares of PTC during the first quarter worth about $9,849,000. Mirabella Financial Services LLP increased its stake in shares of PTC by 542.2% during the third quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock worth $3,640,000 after buying an additional 17,465 shares during the period. KBC Group NV increased its stake in shares of PTC by 2.1% during the third quarter. KBC Group NV now owns 228,386 shares of the technology company’s stock worth $41,260,000 after buying an additional 4,712 shares during the period. Finally, CWM LLC raised its holdings in PTC by 112.0% in the second quarter. CWM LLC now owns 7,189 shares of the technology company’s stock valued at $1,306,000 after acquiring an additional 3,798 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Activity

In other PTC news, CAO Alice Christenson sold 1,703 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at approximately $160,356. This trade represents a 67.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.17% of the company’s stock.

PTC Stock Performance

PTC traded down $0.21 during trading on Wednesday, hitting $199.05. 80,357 shares of the stock were exchanged, compared to its average volume of 807,051. 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 1-year low of $153.44 and a 1-year high of $201.66. The stock has a fifty day moving average price of $185.37 and a two-hundred day moving average price of $179.58. The firm has a market capitalization of $23.91 billion, a P/E ratio of 64.07, a PEG ratio of 2.72 and a beta of 1.17.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PTC shares. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Robert W. Baird raised their price target on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Piper Sandler raised their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and decreased their target price for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $204.83.

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.