Principal Financial Group Inc. Purchases 5,403 Shares of PTC Inc. (NASDAQ:PTC)

Principal Financial Group Inc. raised its position in PTC Inc. (NASDAQ:PTC) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,071 shares of the technology company’s stock after buying an additional 5,403 shares during the quarter. Principal Financial Group Inc.’s holdings in PTC were worth $26,931,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its holdings in PTC by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock worth $1,865,000 after buying an additional 61 shares during the period. Diversified Trust Co lifted its position in shares of PTC by 2.9% during the second quarter. Diversified Trust Co now owns 2,193 shares of the technology company’s stock worth $398,000 after acquiring an additional 62 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of 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 purchasing an additional 62 shares in the last quarter. IFM Investors Pty Ltd raised its stake in shares of PTC by 0.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock valued at $4,690,000 after purchasing an additional 66 shares during the period. Finally, Signaturefd LLC lifted its holdings in PTC by 9.3% during the 3rd quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock worth $162,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

PTC has been the subject of a number of recent analyst reports. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Royal Bank of Canada upped their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Piper Sandler raised their price target on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 price target on shares of PTC in a report on Thursday, October 10th. Finally, Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and dropped their price objective for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $204.83.

PTC Stock Performance

Shares of NASDAQ PTC opened at $192.92 on Wednesday. The stock’s 50-day moving average is $180.33 and its 200 day moving average is $178.38. The stock has a market cap of $23.18 billion, a price-to-earnings ratio of 62.03, a P/E/G ratio of 2.83 and a beta of 1.17. PTC Inc. has a 1-year low of $151.50 and a 1-year high of $199.48. The company has a current ratio of 1.45, a quick ratio of 0.70 and a debt-to-equity ratio of 0.54.

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.