Westfield Capital Management Co. LP Increases Stock Position in PTC Inc. (NASDAQ:PTC)

Westfield Capital Management Co. LP lifted its holdings in PTC Inc. (NASDAQ:PTC) by 1.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 650,151 shares of the technology company’s stock after acquiring an additional 11,923 shares during the quarter. Westfield Capital Management Co. LP’s holdings in PTC were worth $117,456,000 as of its most recent SEC filing.

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

PTC Price Performance

Shares of PTC stock opened at $197.64 on Friday. The firm’s 50-day moving average is $184.36 and its two-hundred day moving average is $179.29. PTC Inc. has a 12 month low of $153.11 and a 12 month high of $199.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $23.74 billion, a PE ratio of 63.55, a price-to-earnings-growth ratio of 2.61 and a beta of 1.17.

Insider Buying and Selling

In other news, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value 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. The trade was a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler increased their price target 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 reaffirmed a “buy” rating and issued a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Royal Bank of Canada boosted their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and decreased their price target for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Finally, StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.83.

About PTC

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.