Steph & Co. Buys 367 Shares of PTC Inc. (NASDAQ:PTC)

Steph & Co. raised its position in shares of PTC Inc. (NASDAQ:PTC) by 41.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,263 shares of the technology company’s stock after acquiring an additional 367 shares during the period. Steph & Co.’s holdings in PTC were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fernbridge Capital Management LP lifted its stake in shares of PTC by 83.7% during the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after acquiring an additional 650,990 shares during the last quarter. Congress Asset Management Co. increased its stake in PTC by 767.8% in the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock worth $119,746,000 after purchasing an additional 586,443 shares during the period. D1 Capital Partners L.P. bought a new stake in shares of PTC during the third quarter worth $84,549,000. Massachusetts Financial Services Co. MA boosted its stake in shares of PTC by 66.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock valued at $140,577,000 after purchasing an additional 310,092 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of PTC by 33.7% in the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after purchasing an additional 135,677 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PTC. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. JPMorgan Chase & Co. increased their price objective on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Piper Sandler lifted their target price on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Stifel Nicolaus lifted their price objective on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, PTC has an average rating of “Moderate Buy” and an average price target of $207.54.

Insider Activity

In related news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction 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 in the company, valued at $160,356. The trade was a 67.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Corinna Lathan sold 860 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the sale, the director now owns 6,843 shares in the company, valued at approximately $1,368,600. This represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock valued at $3,630,716 in the last quarter. 0.32% of the stock is currently owned by company insiders.

PTC Stock Performance

PTC opened at $185.37 on Thursday. The firm has a market capitalization of $22.31 billion, a PE ratio of 59.60, a P/E/G ratio of 2.47 and a beta of 1.18. PTC Inc. has a 12-month low of $163.30 and a 12-month high of $203.09. The firm has a 50 day moving average of $191.68 and a two-hundred day moving average of $182.90. 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.