Principal Financial Group Inc. Purchases 5,403 Shares of PTC Inc. (NASDAQ:PTC)

Principal Financial Group Inc. increased its position in shares of PTC Inc. (NASDAQ:PTC) by 3.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 149,071 shares of the technology company’s stock after buying an additional 5,403 shares during the period. Principal Financial Group Inc. owned 0.12% of PTC worth $26,931,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Congress Asset Management Co. increased its stake in shares of 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 acquiring an additional 586,443 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of PTC by 66.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock valued at $140,577,000 after purchasing an additional 310,092 shares during the period. Matrix Capital Management Company LP bought a new position in shares of PTC during the 1st quarter worth about $56,076,000. Vanguard Group Inc. grew its stake in shares of PTC by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock valued at $2,596,209,000 after buying an additional 205,673 shares during the period. Finally, Clearbridge Investments LLC bought a new stake in PTC in the 1st quarter valued at about $28,510,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Trading Down 0.6 %

Shares of PTC stock opened at $192.92 on Wednesday. The firm has a market cap of $23.18 billion, a PE ratio of 62.03, a P/E/G ratio of 2.83 and a beta of 1.17. PTC Inc. has a 1 year low of $151.50 and a 1 year high of $199.48. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 0.70. The stock has a fifty day moving average price of $180.33 and a 200-day moving average price of $178.38.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price target on shares of PTC in a report on Thursday, October 10th. 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 research note on Thursday, November 7th. Royal Bank of Canada raised their price objective on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and decreased their target price for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Finally, Robert W. Baird raised their price target on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.83.

PTC 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.