Robeco Schweiz AG, a prominent investment firm, has reduced its stake in PTC Inc. (NASDAQ: PTC) by 28.7% during the second quarter of 2023. This adjustment was detailed in its latest 13F filing with the Securities and Exchange Commission (SEC). Following the sale of 191,196 shares, Robeco now holds 476,080 shares of the technology company, which constitutes approximately 1.9% of its overall investment portfolio, making it the firm’s 16th largest position.
As of the most recent SEC filing, Robeco’s holdings in PTC were valued at around $82,048,000. This reduction comes as part of a broader trend among institutional investors, many of whom have adjusted their positions in PTC.
Other Institutional Investors Boost Holdings
Several notable investment firms have recently increased their stakes in PTC. Nisa Investment Advisors LLC raised its position by 35.7% in the same quarter. They now own 28,678 shares, valued at approximately $4,942,000, following the acquisition of an additional 7,546 shares.
Additionally, ARK Investment Management LLC has increased its stake by 18.5%, bringing its total to 19,024 shares, worth about $3,279,000 after acquiring an extra 2,965 shares. M&T Bank Corp also expanded its holdings by 8.2%, now owning 9,522 shares valued at $1,475,000.
Moreover, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings by 33.3%, acquiring an additional 8,300 shares to reach a total of 33,244 shares, valued at approximately $5,729,000. Bright Rock Capital Management LLC entered the market with a new position valued at about $2,154,000 during the second quarter. Overall, institutional investors own a significant 95.14% of PTC’s stock.
PTC’s Stock Performance and Analyst Ratings
PTC shares opened at $177.49 on a recent trading day. The stock has experienced fluctuations, with a 12-month low of $133.38 and a high of $219.69. The company currently has a market capitalization of $21.26 billion, a price-to-earnings (P/E) ratio of 41.86, and a P/E growth (P/E/G) ratio of 1.90. The stock has a beta of 1.15, indicating its volatility compared to the market.
Analyst sentiments regarding PTC have varied recently. On September 20, 2023, Wall Street Zen upgraded PTC from a “buy” to a “strong-buy” rating. In contrast, Weiss Ratings downgraded the stock from a “buy (b-)” to a “hold (c+)” rating on October 25, 2023. Other firms, such as Oppenheimer and Royal Bank of Canada, raised their price targets, with Oppenheimer setting a new target at $240.00 and Royal Bank of Canada adjusting its target to $235.00.
As it stands, eleven analysts have rated PTC with a “buy” rating, while six have issued a “hold” rating. According to MarketBeat, PTC has a consensus rating of “Moderate Buy” and an average price target of $205.92.
PTC Inc. operates as a software company with a global presence, providing solutions such as Windchill for product lifecycle management, ThingWorx for the Industrial Internet of Things, and ServiceMax for field service management. As the company continues to evolve within the technology sector, market activities and institutional investments will be closely monitored by analysts and investors alike.
