Oppenheimer Asset Management Inc. Raises Position in PTC Inc. (NASDAQ:PTC)

Oppenheimer Asset Management Inc. raised its holdings in shares of PTC Inc. (NASDAQ:PTC) by 236.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,524 shares of the technology company’s stock after acquiring an additional 8,798 shares during the period. Oppenheimer Asset Management Inc.’s holdings in PTC were worth $2,263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PTC. Victory Capital Management Inc. boosted its holdings in PTC by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 81,656 shares of the technology company’s stock valued at $14,752,000 after acquiring an additional 988 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of PTC by 4.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 783,077 shares of the technology company’s stock valued at $141,471,000 after purchasing an additional 32,343 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of PTC in the third quarter worth approximately $269,000. Legacy Capital Wealth Partners LLC purchased a new position in shares of PTC in the third quarter worth $302,000. Finally, Covestor Ltd raised its holdings in PTC by 70.8% during the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after buying an additional 80 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

PTC Stock Performance

Shares of PTC stock opened at $190.01 on Friday. The company’s fifty day moving average price is $182.14 and its 200-day moving average price is $178.72. The stock has a market cap of $22.83 billion, a PE ratio of 61.10, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a current ratio of 1.45, a quick ratio of 0.70 and a debt-to-equity ratio of 0.54. PTC Inc. has a 12 month low of $151.73 and a 12 month high of $199.48.

Analyst Upgrades and Downgrades

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

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.