Citigroup Inc. Buys 32,984 Shares of PTC Inc. (NASDAQ:PTC)

Citigroup Inc. raised its stake in shares of PTC Inc. (NASDAQ:PTC) by 28.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 149,293 shares of the technology company’s stock after acquiring an additional 32,984 shares during the quarter. Citigroup Inc. owned approximately 0.12% of PTC worth $26,971,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PTC. Oregon Public Employees Retirement Fund grew its position in PTC by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock worth $1,865,000 after acquiring an additional 61 shares during the last quarter. Diversified Trust Co boosted its stake in PTC by 2.9% in the second quarter. Diversified Trust Co now owns 2,193 shares of the technology company’s stock worth $398,000 after purchasing an additional 62 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after purchasing an additional 62 shares during the last quarter. IFM Investors Pty Ltd increased its stake in shares of PTC by 0.3% in the third quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock valued at $4,690,000 after buying an additional 66 shares in the last quarter. Finally, Metis Global Partners LLC raised its holdings in shares of PTC by 1.1% in the third quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company’s stock valued at $1,202,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Activity at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the transaction, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.17% of the company’s stock.

PTC Price Performance

PTC stock opened at $200.59 on Tuesday. The firm has a market capitalization of $24.10 billion, a P/E ratio of 64.50, a PEG ratio of 2.68 and a beta of 1.17. The business has a 50-day moving average of $184.90 and a 200-day moving average of $179.44. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a 1 year low of $153.44 and a 1 year high of $201.66.

Analysts Set New Price Targets

A number of equities research analysts have commented on PTC shares. Robert W. Baird increased their price objective 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 raised shares of PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Piper Sandler boosted their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Finally, Royal Bank of Canada boosted their target price on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.83.

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.