PTC Inc. $PTC Stock Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its holdings in PTC Inc. (NASDAQ:PTC) by 52.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,228,905 shares of the technology company’s stock after acquiring an additional 423,096 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in PTC were worth $172,415,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PTC. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of PTC during the third quarter worth $4,246,000. Vise Technologies Inc. acquired a new position in PTC in the third quarter valued at $316,000. MGO One Seven LLC purchased a new position in PTC during the third quarter worth about $365,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in PTC during the third quarter worth about $34,363,000. Finally, Choreo LLC lifted its position in PTC by 25.5% during the third quarter. Choreo LLC now owns 3,551 shares of the technology company’s stock worth $498,000 after buying an additional 721 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Transactions at PTC

In related news, Director Corinna Lathan sold 1,750 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $195.75, for a total value of $342,562.50. Following the transaction, the director owned 6,679 shares in the company, valued at approximately $1,307,414.25. This trade represents a 20.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PTC. Citigroup upped their price objective on shares of PTC from $141.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 6th. Mizuho raised their target price on shares of PTC from $160.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 6th. Stifel Nicolaus set a $205.00 target price on shares of PTC in a report on Monday, October 5th. Rosenblatt Securities lowered shares of PTC from a “buy” rating to a “neutral” rating and upped their price target for the stock from $190.00 to $205.00 in a research report on Monday, October 5th. Finally, Royal Bank Of Canada downgraded shares of PTC from a “buy” rating to a “sector perform” rating and increased their price target for the stock from $195.00 to $306.00 in a research note on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, PTC presently has an average rating of “Hold” and an average price target of $200.06.

PTC Stock Performance

Shares of NASDAQ:PTC opened at $195.54 on Monday. The firm has a market capitalization of $21.22 billion, a PE ratio of 18.91, a P/E/G ratio of 2.57 and a beta of 0.92. PTC Inc. has a 12 month low of $108.50 and a 12 month high of $199.51. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50-day moving average of $162.93 and a two-hundred day moving average of $147.40.

PTC Profile

PTC Inc (NASDAQ: PTC) develops software that helps manufacturers and other industrial companies design, manage, and optimize products and production processes. Its portfolio supports computer-aided design, product lifecycle management, digital manufacturing, and industrial Internet of Things initiatives.

The company’s products include Creo for 3D computer-aided design and engineering, Windchill for product lifecycle management, and Codebeamer for application lifecycle management. PTC also offers ThingWorx for industrial connectivity and IoT applications, Kepware for industrial automation connectivity, and Vuforia for augmented reality solutions.

Founded in 1985, PTC serves customers globally across industries such as automotive, aerospace and defense, industrial equipment, electronics, and life sciences.