Arrowstreet Capital Limited Partnership Raises Position in PTC Inc. $PTC

Arrowstreet Capital Limited Partnership raised its holdings in shares of PTC Inc. (NASDAQ:PTC) by 49.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 224,609 shares of the technology company’s stock after acquiring an additional 74,671 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in PTC were worth $38,709,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PTC. T. Rowe Price Investment Management Inc. lifted its stake in shares of PTC by 17.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company’s stock valued at $3,147,478,000 after acquiring an additional 3,048,311 shares during the last quarter. Nuveen LLC bought a new stake in PTC in the first quarter valued at approximately $241,789,000. Norges Bank bought a new stake in PTC in the second quarter valued at approximately $155,673,000. CCLA Investment Management purchased a new stake in shares of PTC during the second quarter valued at approximately $94,629,000. Finally, Vanguard Group Inc. grew its holdings in shares of PTC by 2.9% in the second quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock worth $2,541,838,000 after purchasing an additional 416,791 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Price Performance

PTC stock opened at $173.52 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.12 and a quick ratio of 1.43. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $219.69. The firm has a 50-day moving average of $189.69 and a 200 day moving average of $191.59. The company has a market cap of $20.73 billion, a P/E ratio of 28.26, a PEG ratio of 2.17 and a beta of 1.03.

PTC (NASDAQ:PTC) last posted its earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share for the quarter. PTC had a return on equity of 23.03% and a net margin of 27.05%.The firm had revenue of $1.76 billion for the quarter. On average, sell-side analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

Analyst Ratings Changes

PTC has been the subject of a number of recent analyst reports. Rosenblatt Securities lowered their price target on shares of PTC from $227.00 to $220.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Piper Sandler lowered their price objective on shares of PTC from $200.00 to $175.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of PTC in a report on Monday. Wall Street Zen downgraded PTC from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, BMO Capital Markets dropped their price objective on PTC from $231.00 to $219.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.92.

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.