M&T Bank Corp lifted its position in PTC Inc. (NASDAQ:PTC - Free Report) by 70.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,737 shares of the technology company's stock after buying an additional 3,196 shares during the quarter. M&T Bank Corp's holdings in PTC were worth $1,397,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company's stock valued at $26,000 after buying an additional 122 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company's stock worth $26,000 after acquiring an additional 62 shares during the last quarter. Rothschild Investment LLC bought a new stake in PTC in the 2nd quarter valued at $29,000. International Assets Investment Management LLC acquired a new stake in PTC during the 2nd quarter valued at $30,000. Finally, Covestor Ltd boosted its position in PTC by 70.8% during the third quarter. Covestor Ltd now owns 193 shares of the technology company's stock worth $35,000 after purchasing an additional 80 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.
In other news, CAO Alice Christenson sold 1,703 shares of the business's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the transaction, the chief accounting officer now owns 830 shares of the company's stock, valued at approximately $160,356. The trade was a 67.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kristian Talvitie sold 10,306 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $199.34, for a total value of $2,054,398.04. Following the completion of the sale, the chief financial officer now directly owns 57,134 shares in the company, valued at $11,389,091.56. This trade represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,242 shares of company stock valued at $3,630,716 over the last quarter. 1.17% of the stock is owned by company insiders.
PTC opened at $198.68 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. PTC Inc. has a 52-week low of $163.30 and a 52-week high of $203.09. The firm has a market cap of $23.87 billion, a P/E ratio of 63.88, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16. The business's fifty day moving average is $191.05 and its 200-day moving average is $181.19.
PTC has been the topic of several research analyst reports. Berenberg Bank lowered shares of PTC from a "buy" rating to a "hold" rating and dropped their price objective for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Rosenblatt Securities restated a "buy" rating and set a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Royal Bank of Canada upped their target price on PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. StockNews.com upgraded PTC from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price target on PTC from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $205.67.
Read Our Latest Analysis on PTC
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.
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