Moran Wealth Management LLC Sells 52,562 Shares of PTC Inc. (NASDAQ:PTC)

Moran Wealth Management LLC reduced its holdings in shares of PTC Inc. (NASDAQ:PTC) by 71.6% during the third quarter, HoldingsChannel reports. The firm owned 20,888 shares of the technology company’s stock after selling 52,562 shares during the period. Moran Wealth Management LLC’s holdings in PTC were worth $3,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PTC. First Horizon Advisors Inc. lifted its holdings 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 acquiring an additional 62 shares during the period. Blue Trust Inc. lifted its holdings 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 acquiring an additional 122 shares during the period. Rothschild Investment LLC purchased a new stake in PTC in the second quarter worth about $29,000. International Assets Investment Management LLC purchased a new stake in PTC in the second quarter worth about $30,000. Finally, OFI Invest Asset Management purchased a new stake in PTC in the second quarter worth about $31,000. 95.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on PTC. Royal Bank of Canada upped their price target on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Piper Sandler upped their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities restated a “buy” rating and issued a $195.00 price target on shares of PTC in a research report on Thursday, October 10th. Finally, Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and cut their target price for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and an average target price of $204.83.

PTC Stock Performance

Shares of NASDAQ:PTC opened at $188.50 on Thursday. The firm has a fifty day simple moving average of $183.01 and a two-hundred day simple moving average of $178.98. PTC Inc. has a 52 week low of $152.68 and a 52 week high of $199.48. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $22.64 billion, a P/E ratio of 60.61, a PEG 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.