Sumitomo Mitsui Trust Group Inc. Has $141.47 Million Stake in PTC Inc. (NASDAQ:PTC)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of PTC Inc. (NASDAQ:PTC) by 4.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 783,077 shares of the technology company’s stock after buying an additional 32,343 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in PTC were worth $141,471,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PTC. Vanguard Group Inc. grew its holdings in shares of PTC by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock worth $2,596,209,000 after purchasing an additional 205,673 shares in the last quarter. Impax Asset Management Group plc grew its stake in PTC by 4.4% during the second quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock worth $206,091,000 after buying an additional 48,553 shares in the last quarter. Liontrust Investment Partners LLP increased its holdings in PTC by 1.0% in the 2nd quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company’s stock valued at $182,383,000 after buying an additional 10,338 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of PTC by 4.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 875,282 shares of the technology company’s stock valued at $165,377,000 after buying an additional 40,462 shares in the last quarter. Finally, Fernbridge Capital Management LP lifted its holdings in shares of PTC by 6.3% during the 2nd quarter. Fernbridge Capital Management LP now owns 778,015 shares of the technology company’s stock worth $141,342,000 after acquiring an additional 46,286 shares during the period. Institutional investors own 95.14% of the company’s stock.

PTC Stock Performance

PTC stock opened at $192.92 on Wednesday. The business has a 50 day moving average of $180.33 and a 200-day moving average of $178.38. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 0.70. PTC Inc. has a 1 year low of $151.50 and a 1 year high of $199.48. The company has a market capitalization of $23.18 billion, a P/E ratio of 62.03, a P/E/G ratio of 2.72 and a beta of 1.17.

Analyst Ratings Changes

PTC has been the topic of a number of recent analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Royal Bank of Canada boosted their price target on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Piper Sandler upped their price objective on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and dropped their target price for the stock from $210.00 to $196.00 in a 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 MarketBeat, PTC presently has an average rating of “Moderate Buy” and an average price target 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.