CIBC Asset Management Inc Has $3.36 Million Stake in PTC Inc. (NASDAQ:PTC)

CIBC Asset Management Inc lifted its stake in shares of PTC Inc. (NASDAQ:PTC) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,290 shares of the technology company’s stock after purchasing an additional 796 shares during the period. CIBC Asset Management Inc’s holdings in PTC were worth $3,363,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Covestor Ltd lifted its holdings in PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after buying an additional 80 shares during the period. Allworth Financial LP lifted its holdings in PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after buying an additional 69 shares during the period. Brooklyn Investment Group acquired a new position in PTC in the third quarter valued at approximately $66,000. Blue Trust Inc. lifted its holdings in PTC by 473.9% in the third quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock valued at $144,000 after buying an additional 654 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in PTC in the third quarter valued at approximately $152,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PTC has been the topic of several analyst reports. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Friday. Robert W. Baird upped 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $204.00 target price on shares of PTC in a research note on Tuesday, February 4th. Piper Sandler upped their target price on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, PTC currently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Stock Down 2.4 %

Shares of PTC stock opened at $165.76 on Friday. The firm has a fifty day moving average of $184.34 and a 200-day moving average of $183.30. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC Inc. has a 12-month low of $163.30 and a 12-month high of $203.09. The company has a market capitalization of $19.94 billion, a price-to-earnings ratio of 51.16, a P/E/G ratio of 2.34 and a beta of 1.19.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. As a group, equities research analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PTC news, Director Corinna Lathan sold 860 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the sale, the director now owns 6,843 shares in the company, valued at $1,368,600. This trade represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kristian Talvitie sold 10,306 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the completion of the sale, the chief financial officer now owns 57,134 shares of the company’s stock, valued at approximately $11,389,091.56. This represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,539 shares of company stock worth $3,301,697. 0.32% of the stock is owned by insiders.

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.