Fifth Third Wealth Advisors LLC Purchases New Holdings in PTC Inc. (NASDAQ:PTC)

Fifth Third Wealth Advisors LLC purchased a new position in PTC Inc. (NASDAQ:PTC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,415 shares of the technology company's stock, valued at approximately $260,000.

Several other hedge funds have also made changes to their positions in the stock. Wedmont Private Capital raised its stake in PTC by 1.6% during the 4th quarter. Wedmont Private Capital now owns 4,026 shares of the technology company's stock valued at $734,000 after acquiring an additional 64 shares in the last quarter. IFM Investors Pty Ltd raised its stake in PTC by 0.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company's stock valued at $4,690,000 after acquiring an additional 66 shares in the last quarter. Metis Global Partners LLC raised its stake in PTC by 1.1% during the 3rd quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company's stock valued at $1,202,000 after acquiring an additional 73 shares in the last quarter. Signaturefd LLC raised its stake in PTC by 9.3% during the 3rd quarter. Signaturefd LLC now owns 894 shares of the technology company's stock valued at $162,000 after acquiring an additional 76 shares in the last quarter. Finally, Equitable Trust Co. raised its stake in PTC by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 3,602 shares of the technology company's stock valued at $651,000 after acquiring an additional 79 shares in the last quarter. Institutional investors own 95.14% of the company's stock.

Insiders Place Their Bets

In related news, CFO Kristian Talvitie sold 10,306 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the completion of the transaction, the chief financial officer now owns 57,134 shares of the company's stock, valued at approximately $11,389,091.56. The trade was a 15.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the transaction, the chief accounting officer now directly owns 830 shares of the company's stock, valued at $160,356. This represents a 67.23 % decrease in their position. 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. Insiders own 0.32% of the company's stock.

PTC Stock Up 0.4 %

PTC traded up $0.82 during trading on Friday, reaching $187.79. 612,372 shares of the stock traded hands, compared to its average volume of 654,261. The stock has a market cap of $22.60 billion, a price-to-earnings ratio of 60.38, a price-to-earnings-growth ratio of 2.47 and a beta of 1.18. PTC Inc. has a fifty-two week low of $163.30 and a fifty-two week high of $203.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The stock's 50-day simple moving average is $191.52 and its two-hundred day simple moving average is $182.98.

Analyst Upgrades and Downgrades

PTC has been the topic of a number of research reports. StockNews.com raised PTC from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Royal Bank of Canada boosted their price objective on PTC from $202.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Robert W. Baird boosted their price objective on PTC from $226.00 to $228.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Berenberg Bank downgraded PTC from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Finally, Piper Sandler boosted their price objective on PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $207.54.

PTC 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.