PTC Inc. (NASDAQ:PTC) Shares Acquired by Fernbridge Capital Management LP

Fernbridge Capital Management LP grew its stake in PTC Inc. (NASDAQ:PTC) by 83.7% during the third quarter, HoldingsChannel.com reports. The firm owned 1,429,005 shares of the technology company’s stock after buying an additional 650,990 shares during the period. PTC makes up about 15.8% of Fernbridge Capital Management LP’s holdings, making the stock its 2nd biggest holding. Fernbridge Capital Management LP’s holdings in PTC were worth $258,164,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. grew its position in shares of PTC by 22.2% during the 1st quarter. Advisors Asset Management Inc. now owns 4,444 shares of the technology company’s stock worth $840,000 after purchasing an additional 807 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of PTC by 1.4% during the first quarter. California State Teachers Retirement System now owns 186,636 shares of the technology company’s stock valued at $35,263,000 after purchasing an additional 2,514 shares during the period. Tidal Investments LLC increased its position in shares of PTC by 14.9% during the first quarter. Tidal Investments LLC now owns 12,836 shares of the technology company’s stock worth $2,425,000 after acquiring an additional 1,667 shares in the last quarter. Comerica Bank raised its stake in shares of PTC by 0.6% in the first quarter. Comerica Bank now owns 103,973 shares of the technology company’s stock worth $19,645,000 after purchasing an additional 663 shares during the last quarter. Finally, iA Global Asset Management Inc. raised its position in PTC by 189.0% in the 1st quarter. iA Global Asset Management Inc. now owns 4,347 shares of the technology company’s stock valued at $821,000 after buying an additional 2,843 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Insider Activity

In other news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.17% of the company’s stock.

Analyst Ratings Changes

PTC has been the topic of a number of recent analyst reports. Piper Sandler lifted their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada increased their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Finally, Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and dropped their target price for the company from $210.00 to $196.00 in a research report 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $204.83.

PTC Trading Down 0.7 %

Shares of NASDAQ:PTC opened at $199.26 on Wednesday. The stock’s fifty day moving average price is $185.37 and its 200-day moving average price is $179.58. 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 cap of $23.94 billion, a P/E ratio of 64.07, a PEG ratio of 2.72 and a beta of 1.17. PTC Inc. has a 1 year low of $153.44 and a 1 year high of $201.66.

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.