Curi RMB Capital LLC Cuts Position in PTC Inc. (NASDAQ:PTC)

Curi RMB Capital LLC decreased its holdings in shares of PTC Inc. (NASDAQ:PTC) by 6.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 284,115 shares of the technology company’s stock after selling 18,197 shares during the quarter. PTC comprises approximately 1.2% of Curi RMB Capital LLC’s holdings, making the stock its 15th biggest holding. Curi RMB Capital LLC owned approximately 0.24% of PTC worth $51,328,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PTC. Congress Asset Management Co. raised its stake in PTC by 767.8% during the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock valued at $119,746,000 after buying an additional 586,443 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in PTC by 66.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after buying an additional 310,092 shares in the last quarter. Matrix Capital Management Company LP acquired a new position in PTC in the first quarter worth approximately $56,076,000. Vanguard Group Inc. raised its position in shares of PTC by 1.5% during the first 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 during the period. Finally, Clearbridge Investments LLC purchased a new position in PTC during the 1st quarter worth approximately $28,510,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Trading Up 0.3 %

PTC stock opened at $193.46 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.70 and a current ratio of 1.45. PTC Inc. has a fifty-two week low of $151.73 and a fifty-two week high of $199.48. The stock has a market cap of $23.24 billion, a P/E ratio of 62.21, a PEG ratio of 2.61 and a beta of 1.17. The firm’s fifty day moving average price is $180.72 and its 200-day moving average price is $178.46.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Royal Bank of Canada raised their price target on shares of PTC from $202.00 to $230.00 and gave the stock 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. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Robert W. Baird increased their target price on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Four research 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.com, PTC has a consensus 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.