Zurcher Kantonalbank Zurich Cantonalbank Sells 72,464 Shares of PTC Inc. (NASDAQ:PTC)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in PTC Inc. (NASDAQ:PTC) by 39.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,047 shares of the technology company’s stock after selling 72,464 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PTC were worth $20,423,000 at the end of the most recent reporting period.

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

PTC Price Performance

PTC stock opened at $200.06 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $24.03 billion, a P/E ratio of 64.33, a PEG ratio of 2.69 and a beta of 1.17. The business has a 50-day moving average of $186.73 and a 200-day moving average of $179.99. PTC Inc. has a 1 year low of $154.73 and a 1 year high of $201.66.

Insider Buying and Selling

In other news, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the sale, the chief accounting officer now owns 830 shares of the company’s stock, valued at $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Corinna Lathan sold 860 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the transaction, the director now owns 6,843 shares of the company’s stock, valued at $1,368,600. This represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PTC shares. Rosenblatt Securities restated a “buy” rating and issued a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Robert W. Baird upped their price objective on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their target price on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Piper Sandler upped 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. 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 has an average rating of “Moderate Buy” and a consensus 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.