Quantbot Technologies LP Acquires Shares in PTC Inc.

In the third quarter, Quantbot Technologies LP has made a significant move by purchasing a new position in PTC Inc. (NASDAQ:PTC). According to the latest disclosure to the Securities and Exchange Commission, the institutional investor acquired 20,376 shares of the technology company, valued at approximately $3,681,000.

Q3 2023 also saw a number of other institutional investors adjusting their stakes in PTC. For instance, Congress Asset Management Co. boosted its holdings by an impressive 767.8%, now owning 662,826 shares worth around $119,746,000 after acquiring an additional 586,443 shares. Meanwhile, Massachusetts Financial Services Co. MA increased its stake by 66.9% in the second quarter, holding 773,804 shares valued at about $140,577,000 following a purchase of 310,092 shares.

Railway Pension Investments Ltd also joined in, buying a new stake valued at approximately $24,416,000 during the same quarter. Similarly, Van Lanschot Kempen Investment Management N.V. raised its investment in PTC by 13.2%, owning 768,810 shares now worth around $139,670,000 after acquiring an extra 89,678 shares.

Kayne Anderson Rudnick Investment Management LLC saw an increase of 46.1% in their holdings, with 253,149 shares now valued at $45,990,000 due to the purchase of an additional 79,855 shares. Altogether, a staggering 95.14% of PTC's stock is now owned by hedge funds and other institutional investors.

Recent Performance of PTC Stock

This news comes as PTC's stock experienced a slight decline of 0.1% recently. On Thursday, the stock opened at $199.01. PTC has a debt-to-equity ratio of 0.38 and a current and quick ratio of 0.78 each. The fifty-day moving average price stands at $185.84, while the 200-day moving average price is at $179.71. Over the past year, PTC has seen a low of $153.44 and a high of $201.66, with a market capitalization of $23.91 billion, a P/E ratio of 63.99, a PEG ratio of 2.72, and a beta of 1.17.

Insider Trading Activity

In insider trading news, CAO Alice Christenson sold 1,703 shares of PTC on November 21st at an average price of $193.20, totaling $329,019.60. After the sale, she holds 830 shares valued at approximately $160,356, marking a 67.23% decrease in her ownership of the stock. Director Corinna Lathan also sold shares, offloading 860 shares at an average price of $200, resulting in a transaction worth $172,000 and a reduction of 11.16% in her position. Company insiders currently own about 1.17% of PTC's stock.

Analyst Ratings and Forecasts

Wall Street analysts have diverse views on PTC. Recently, Piper Sandler increased their price target from $182.00 to $202.00, assigning a "neutral" rating. Robert W. Baird raised their price objective from $226.00 to $228.00 and rated the stock as "outperform". Rosenblatt Securities reaffirmed a "buy" rating with a target price of $195.00. Meanwhile, Berenberg Bank downgraded PTC from a "buy" to a "hold" rating, lowering their price target from $210.00 to $196.00. Royal Bank of Canada elevated their price target from $202.00 to $230.00, continuing to rate it as "outperform". Currently, four analysts have a hold rating, and nine have given it a buy rating, leading to an average rating of "Moderate Buy" and a consensus target price of $204.83 according to MarketBeat.com.

Overview of PTC Inc.

PTC Inc operates as a software provider across the Americas, Europe, and the Asia Pacific. The company's offerings include Windchill, a suite for managing the product development lifecycle (PLM), which helps manufacturers enhance processes in product development, manufacturing, and field services. Additionally, PTC provides technological solutions like ThingWorx, a platform for the Industrial Internet of Things, and ServiceMax, which facilitates optimal field service management.

investment, PTC, stocks