PTC Inc. (NASDAQ:PTC) Stock Holdings Boosted by Commerce Bank

Commerce Bank raised its position in shares of PTC Inc. (NASDAQ:PTC) by 6.3% in the third quarter, HoldingsChannel reports. The firm owned 47,404 shares of the technology company’s stock after acquiring an additional 2,792 shares during the period. Commerce Bank’s holdings in PTC were worth $8,564,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in PTC in the 1st quarter worth about $215,000. Acadian Asset Management LLC lifted its position in shares of PTC by 74.7% in the 1st quarter. Acadian Asset Management LLC now owns 2,047 shares of the technology company’s stock valued at $385,000 after acquiring an additional 875 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in PTC by 22.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,449 shares of the technology company’s stock worth $841,000 after purchasing an additional 826 shares in the last quarter. Bessemer Group Inc. raised its stake in PTC by 19.3% during the 1st quarter. Bessemer Group Inc. now owns 2,663 shares of the technology company’s stock valued at $504,000 after purchasing an additional 430 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of PTC by 2.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 84,637 shares of the technology company’s stock worth $15,995,000 after buying an additional 1,965 shares during the period. 95.14% of the stock is owned by institutional investors.

PTC Stock Performance

NASDAQ PTC opened at $192.95 on Friday. The firm has a market capitalization of $23.18 billion, a P/E ratio of 62.04, a price-to-earnings-growth ratio of 2.56 and a beta of 1.17. The firm’s fifty day moving average price is $183.41 and its two-hundred day moving average price is $179.05. PTC Inc. has a 1 year low of $152.68 and a 1 year high of $199.48. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PTC shares. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Piper Sandler boosted 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. Robert W. Baird increased 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. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities restated a “buy” rating and set a $195.00 price target on shares of PTC in a research note on Thursday, October 10th. Four 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, the stock 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.