Robeco Schweiz AG has significantly reduced its investment in PTC Inc. by selling 191,196 shares, which represents a 28.7% decrease in its holdings during the second quarter of 2023. According to the fund’s latest 13F filing with the Securities and Exchange Commission, Robeco now possesses 476,080 shares of the technology company, valued at approximately $82,048,000. This reduction positions PTC as the 16th largest holding in Robeco’s investment portfolio, accounting for about 1.9% of its total investments.
Several other prominent investors have also adjusted their positions in PTC. Nisa Investment Advisors LLC increased its holdings by 35.7%, now owning 28,678 shares valued at $4,942,000 after acquiring an additional 7,546 shares. Meanwhile, ARK Investment Management LLC expanded its stake in PTC by 18.5%, bringing its total to 19,024 shares worth $3,279,000. M&T Bank Corp raised its investment by 8.2%, now holding 9,522 shares valued at $1,475,000.
Another significant adjustment came from BNP PARIBAS ASSET MANAGEMENT Holding S.A., which boosted its holdings in PTC by 33.3%. The firm now owns 33,244 shares worth approximately $5,729,000. Additionally, Bright Rock Capital Management LLC entered the market with a new position in PTC valued at about $2,154,000 during the same quarter. Institutional investors collectively own 95.14% of PTC’s stock.
PTC’s Stock Performance and Analyst Ratings
On Tuesday, shares of PTC opened at $177.49. The stock has experienced a 12-month low of $133.38 and a high of $219.69. PTC holds a market capitalization of $21.26 billion, a price-to-earnings (P/E) ratio of 41.86, and a price-to-earnings-growth (P/E/G) ratio of 1.90. The company’s current ratio stands at 0.89, with a quick ratio also at 0.89 and a debt-to-equity ratio of 0.34. PTC’s fifty-day simple moving average is $201.90, while the two-hundred-day average is $190.42.
Analysts have expressed varying opinions on PTC’s stock. Wall Street Zen upgraded the stock from a “buy” to a “strong-buy” rating in a report dated September 20, 2023. Oppenheimer raised its price target for PTC from $225.00 to $240.00, issuing an “outperform” rating on July 31, 2023. Conversely, Weiss Ratings downgraded PTC from a “buy (b-)” to a “hold (c+)” rating on October 25, 2023. Cantor Fitzgerald set a price target of $120.00 with an “overweight” rating, while the Royal Bank of Canada adjusted its price objective for PTC from $224.00 to $235.00.
Overall, eleven analysts currently rate PTC with a “buy” rating, while six have issued “hold” ratings. According to MarketBeat, the consensus rating for PTC stands at “Moderate Buy” with an average price target of $205.92.
Company Overview
PTC Inc. operates as a software company across the Americas, Europe, and the Asia Pacific. The firm offers a suite of products, including Windchill, which manages the product development lifecycle (PLM), facilitating real-time information sharing and collaboration among distributed teams. PTC also provides ThingWorx, a platform tailored for the Industrial Internet of Things, and ServiceMax, which enhances field service management through mobile tools to optimize productivity.
Investors and analysts continue to monitor PTC closely, reflecting the company’s significant role in the technology landscape and ongoing shifts in institutional investment strategies.
