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

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of PTC Inc. (NASDAQ:PTC) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 783,077 shares of the technology company’s stock after buying an additional 32,343 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.65% of PTC worth $141,471,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC raised its holdings in shares of PTC by 180.8% in the first quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock valued at $5,115,000 after purchasing an additional 17,430 shares during the last quarter. US Bancorp DE lifted its position in PTC by 67.7% during the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after buying an additional 5,717 shares in the last quarter. Swedbank AB acquired a new position in shares of PTC during the 1st quarter worth about $9,849,000. TD Asset Management Inc grew its holdings in shares of PTC by 5.9% in the 1st quarter. TD Asset Management Inc now owns 437,643 shares of the technology company’s stock valued at $82,688,000 after acquiring an additional 24,372 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of PTC in the first quarter valued at about $2,595,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Stock Performance

PTC opened at $192.92 on Wednesday. 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 business has a fifty day simple moving average of $180.33 and a 200 day simple moving average of $178.38. 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 PE ratio of 62.03, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17.

Analysts Set New Price Targets

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

About PTC

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.