JPMorgan Chase & Co. Increases Stock Position in PTC Inc. (NASDAQ:PTC)

JPMorgan Chase & Co. lifted its holdings in shares of PTC Inc. (NASDAQ:PTC) by 33.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 537,989 shares of the technology company’s stock after buying an additional 135,677 shares during the period. JPMorgan Chase & Co. owned about 0.45% of PTC worth $97,193,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rothschild Investment LLC purchased a new stake in PTC during the second quarter worth about $29,000. International Assets Investment Management LLC purchased a new stake in shares of PTC during the 2nd quarter worth approximately $30,000. Covestor Ltd grew its holdings in shares of PTC by 70.8% in the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after acquiring an additional 80 shares during the period. Brown Brothers Harriman & Co. increased its stake in PTC by 66.4% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 233 shares of the technology company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in PTC during the third quarter worth $66,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PTC has been the topic of several research reports. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Stifel Nicolaus raised their target price on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 price target on shares of PTC in a report on Thursday, October 10th. Royal Bank of Canada raised their price objective on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird lifted their price objective on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $207.54.

PTC Stock Performance

PTC stock opened at $183.01 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The firm’s fifty day moving average price is $192.40 and its 200 day moving average price is $182.40. The company has a market capitalization of $21.98 billion, a price-to-earnings ratio of 58.85, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16. PTC Inc. has a 12-month low of $163.30 and a 12-month high of $203.09.

Insider Buying and Selling at PTC

In other PTC news, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares in the company, valued at $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Corinna Lathan sold 860 shares of PTC stock in a transaction that occurred on Monday, November 25th. The stock was 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 approximately $1,368,600. The trade was a 11.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock worth $3,630,716 in the last 90 days. 1.17% of the stock is owned by corporate insiders.

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.