Swedbank AB Has $11.17 Million Stake in PTC Inc. (NASDAQ:PTC)

Swedbank AB grew its holdings in shares of PTC Inc. (NASDAQ:PTC) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,829 shares of the technology company’s stock after acquiring an additional 3,157 shares during the period. Swedbank AB’s holdings in PTC were worth $11,170,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PTC. First Horizon Advisors Inc. boosted its holdings in shares of PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after buying an additional 62 shares in the last quarter. Blue Trust Inc. lifted its position in shares of 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 acquiring an additional 122 shares during the period. Rothschild Investment LLC acquired a new stake in PTC in the second quarter worth $29,000. International Assets Investment Management LLC bought a new stake in PTC in the second quarter valued at $30,000. Finally, OFI Invest Asset Management bought a new stake in PTC in the 2nd quarter valued at about $31,000. 95.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other PTC 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 value of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares in the company, valued at $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.17% of the company’s stock.

Analyst Ratings Changes

PTC has been the topic of a number of research reports. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and lowered their target price for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Robert W. Baird upped their target price on shares of 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 boosted 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 reaffirmed a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Finally, Piper Sandler raised their price objective on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $204.83.

PTC Price Performance

Shares of NASDAQ:PTC opened at $199.26 on Wednesday. PTC Inc. has a fifty-two week low of $153.44 and a fifty-two week high of $201.66. The company’s 50-day moving average is $185.37 and its 200 day moving average is $179.58. 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 market capitalization of $23.94 billion, a P/E ratio of 64.07, a price-to-earnings-growth ratio of 2.68 and a beta of 1.17.

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.