Impax Asset Management Group plc Sells 35,810 Shares of PTC Inc. (NASDAQ:PTC)

Impax Asset Management Group plc lowered its position in shares of PTC Inc. (NASDAQ:PTC) by 3.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,105,972 shares of the technology company’s stock after selling 35,810 shares during the quarter. Impax Asset Management Group plc owned about 0.92% of PTC worth $198,426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PTC. First Horizon Advisors Inc. lifted its holdings in shares of PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after buying an additional 62 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of PTC during the second quarter worth about $29,000. International Assets Investment Management LLC bought a new stake in shares of PTC during the second quarter worth about $30,000. Finally, OFI Invest Asset Management bought a new stake in shares of PTC during the second quarter worth about $31,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada restated an “outperform” rating and set a $202.00 price target on shares of PTC in a report on Thursday, August 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Robert W. Baird increased their price target on PTC from $216.00 to $226.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and reduced their price objective for the company from $210.00 to $196.00 in a research note on Friday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.67.

PTC Price Performance

Shares of NASDAQ:PTC opened at $186.23 on Tuesday. The company has a 50 day moving average of $178.74 and a 200 day moving average of $177.89. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The stock has a market cap of $22.37 billion, a P/E ratio of 76.01, a P/E/G ratio of 2.72 and a beta of 1.17. PTC Inc. has a 12 month low of $146.63 and a 12 month high of $194.24.

Insider Activity

In related news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the sale, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.17% of the company’s stock.

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.