Massachusetts Financial Services Co. MA Boosts Holdings in PTC Inc. (NASDAQ:PTC)

Massachusetts Financial Services Co. MA lifted its stake in shares of PTC Inc. (NASDAQ:PTC) by 19.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 924,456 shares of the technology company’s stock after purchasing an additional 150,652 shares during the period. Massachusetts Financial Services Co. MA owned about 0.77% of PTC worth $167,012,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PTC. Congress Asset Management Co. lifted its holdings in PTC by 767.8% in the 3rd quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock valued at $119,746,000 after purchasing an additional 586,443 shares in the last quarter. Railway Pension Investments Ltd acquired a new position in PTC during the second quarter worth about $24,416,000. Van Lanschot Kempen Investment Management N.V. grew its stake in PTC by 13.2% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 768,810 shares of the technology company’s stock valued at $139,670,000 after acquiring an additional 89,678 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in PTC by 46.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 253,149 shares of the technology company’s stock worth $45,990,000 after purchasing an additional 79,855 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of PTC by 147.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 115,036 shares of the technology company’s stock worth $21,672,000 after purchasing an additional 68,513 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Trading Up 2.5 %

Shares of PTC stock opened at $197.64 on Friday. The stock has a market capitalization of $23.74 billion, a P/E ratio of 63.55, a price-to-earnings-growth ratio of 2.61 and a beta of 1.17. PTC Inc. has a fifty-two week low of $153.11 and a fifty-two week high of $199.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The company has a 50 day moving average price of $183.85 and a 200 day moving average price of $179.15.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PTC shares. Piper Sandler boosted their price objective on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and reduced their target price for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Robert W. Baird raised their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada upped their price target on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, PTC presently has an average rating of “Moderate Buy” and an average target price of $204.83.

Insider Transactions at PTC

In related news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the transaction, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at $160,356. The trade was a 67.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.17% of the company’s stock.

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.