State Street Corp boosted its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,076,319 shares of the technology company's stock after acquiring an additional 133,370 shares during the quarter. State Street Corp owned 4.23% of PTC worth $917,088,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of PTC by 762.5% in 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. First Horizon Advisors Inc. grew its position in shares of PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company's stock valued at $26,000 after buying an additional 62 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of PTC in the 2nd quarter valued at about $29,000. International Assets Investment Management LLC acquired a new stake in shares of PTC in the second quarter valued at about $30,000. Finally, OFI Invest Asset Management bought a new position in shares of PTC during the second quarter worth about $31,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.
PTC Stock Up 0.0 %
PTC stock traded up $0.06 during mid-day trading on Friday, reaching $200.92. The stock had a trading volume of 721,300 shares, compared to its average volume of 801,870. The firm has a market capitalization of $24.14 billion, a PE ratio of 64.60, a price-to-earnings-growth ratio of 2.72 and a beta of 1.16. PTC Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $202.80. The stock's 50-day simple moving average is $188.87 and its 200-day simple moving average is $180.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78.
Analysts Set New Price Targets
Several analysts recently commented on PTC shares. JPMorgan Chase & Co. upped their target price on PTC from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, December 2nd. Royal Bank of Canada upped their price objective on shares of PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Rosenblatt Securities reiterated a "buy" rating and set a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. StockNews.com upgraded shares of PTC from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Finally, Robert W. Baird increased their price target on PTC from $226.00 to $228.00 and gave the stock an "outperform" rating in a 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $205.67.
View Our Latest Stock Analysis on PTC
Insiders Place Their Bets
In other news, CAO Alice Christenson sold 1,703 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were 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 directly owns 830 shares of the company's stock, valued at $160,356. This represents a 67.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Corinna Lathan sold 860 shares of PTC stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.00, for a total transaction of $172,000.00. Following the completion of the sale, the director now directly owns 6,843 shares in the company, valued at $1,368,600. This trade represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,869 shares of company stock worth $2,555,418. Insiders own 1.17% of the company's stock.
PTC Profile
(
Free Report)
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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