Orion Portfolio Solutions LLC Boosts Position in PTC Inc. (NASDAQ:PTC)

Orion Portfolio Solutions LLC raised its holdings in shares of PTC Inc. (NASDAQ:PTC) by 30.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,651 shares of the technology company’s stock after acquiring an additional 1,332 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in PTC were worth $1,021,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PTC. Blue Trust Inc. grew its stake in shares of PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after buying an additional 122 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after acquiring an additional 62 shares during the period. Rothschild Investment LLC acquired a new stake in PTC in the second quarter valued at approximately $29,000. International Assets Investment Management LLC purchased a new stake in shares of PTC during the second quarter valued at approximately $30,000. Finally, Covestor Ltd lifted its position in shares of PTC by 70.8% during the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after purchasing an additional 80 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction that occurred 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 completion of the transaction, 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 legal filing with the SEC, which is available at this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value 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. The trade was a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock worth $3,630,716 over the last 90 days. Insiders own 1.17% of the company’s stock.

PTC Stock Performance

PTC stock opened at $198.68 on Monday. The stock’s 50 day simple moving average is $191.05 and its 200 day simple moving average is $181.19. PTC Inc. has a 12-month low of $163.30 and a 12-month high of $203.09. The firm has a market cap of $23.87 billion, a P/E ratio of 63.88, a P/E/G ratio of 2.70 and a beta of 1.16. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PTC shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price target on shares of PTC in a report on Thursday, October 10th. JPMorgan Chase & Co. lifted their target price on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Royal Bank of Canada increased their price target on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. 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. Finally, Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and cut their target price for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.67.

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.