M&T Bank Corp Acquires 3,196 Shares of PTC Inc. (NASDAQ:PTC)

M&T Bank Corp boosted its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 70.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,737 shares of the technology company's stock after buying an additional 3,196 shares during the period. M&T Bank Corp's holdings in PTC were worth $1,397,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in PTC by 762.5% in the 2nd 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 stake in PTC by 77.5% in the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company's stock valued at $26,000 after acquiring an additional 62 shares during the period. Rothschild Investment LLC acquired a new position in PTC in the second quarter worth about $29,000. International Assets Investment Management LLC bought a new position in PTC during the second quarter worth about $30,000. Finally, Covestor Ltd boosted its holdings in PTC by 70.8% during the third quarter. Covestor Ltd now owns 193 shares of the technology company's stock valued at $35,000 after purchasing an additional 80 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 5,373 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the transaction, the executive vice president now owns 21,707 shares of the company's stock, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Corinna Lathan sold 860 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the transaction, the director now owns 6,843 shares of the company's stock, valued at $1,368,600. The trade was a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock worth $3,630,716 over the last three months. 1.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PTC. Royal Bank of Canada increased their target price on PTC from $202.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Berenberg Bank lowered 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. Piper Sandler boosted their target price on shares of PTC from $182.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on shares of PTC from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, December 2nd. Finally, Robert W. Baird boosted their price target on shares of PTC from $226.00 to $228.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, PTC currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.67.

PTC Trading Up 0.7 %

PTC traded up $1.39 during mid-day trading on Monday, reaching $200.07. The stock had a trading volume of 700,811 shares, compared to its average volume of 798,896. The firm's fifty day simple moving average is $191.05 and its two-hundred day simple moving average is $181.21. The stock has a market capitalization of $24.03 billion, a P/E ratio of 63.88, a P/E/G ratio of 2.70 and a beta of 1.16. PTC Inc. has a 52 week low of $163.30 and a 52 week high of $203.09. 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 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.