Bank of America Corp DE trimmed its holdings in shares of PTC Inc. (NASDAQ:PTC – Get Rating) by 14.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 405,445 shares of the technology company’s stock after selling 68,500 shares during the period. Bank of America Corp DE’s holdings in PTC were worth $48,670,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of PTC by 1.2% during the third quarter. Vanguard Group Inc. now owns 12,097,561 shares of the technology company’s stock valued at $1,265,405,000 after purchasing an additional 143,827 shares during the last quarter. BlackRock Inc. increased its position in shares of PTC by 4.3% during the third quarter. BlackRock Inc. now owns 8,736,220 shares of the technology company’s stock valued at $913,806,000 after acquiring an additional 358,134 shares in the last quarter. Pictet Asset Management SA increased its position in shares of PTC by 3.8% during the third quarter. Pictet Asset Management SA now owns 4,409,684 shares of the technology company’s stock valued at $461,380,000 after acquiring an additional 161,700 shares in the last quarter. State Street Corp increased its position in shares of PTC by 0.8% during the third quarter. State Street Corp now owns 4,058,371 shares of the technology company’s stock valued at $424,506,000 after acquiring an additional 31,252 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of PTC by 1.6% during the first quarter. Invesco Ltd. now owns 2,576,733 shares of the technology company’s stock valued at $277,566,000 after acquiring an additional 41,474 shares in the last quarter. 86.79% of the stock is currently owned by hedge funds and other institutional investors.
PTC Trading Down 3.6 %
Shares of PTC stock opened at $135.95 on Thursday. PTC Inc. has a 1 year low of $97.97 and a 1 year high of $141.70. The firm has a fifty day moving average price of $129.32 and a 200-day moving average price of $127.08. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $16.10 billion, a price-to-earnings ratio of 51.11, a PEG ratio of 3.07 and a beta of 1.19.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on PTC. Rosenblatt Securities reissued a “buy” rating and set a $148.00 price target on shares of PTC in a research report on Friday, April 14th. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. VNET Group reaffirmed a “maintains” rating on shares of PTC in a research report on Thursday, April 27th. Mizuho lifted their target price on shares of PTC from $165.00 to $170.00 in a research report on Wednesday, May 17th. Finally, Barclays lifted their target price on shares of PTC from $150.00 to $152.00 in a research report on Thursday, April 27th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.50.
Insider Activity
In other news, COO Michael Ditullio sold 2,000 shares of the business’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $122.79, for a total transaction of $245,580.00. Following the completion of the sale, the chief operating officer now owns 61,250 shares of the company’s stock, valued at approximately $7,520,887.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Michael Ditullio sold 2,000 shares of PTC stock in a transaction on Friday, April 28th. The shares were sold at an average price of $122.79, for a total transaction of $245,580.00. Following the transaction, the chief operating officer now owns 61,250 shares in the company, valued at approximately $7,520,887.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Staats Aaron C. Von sold 4,865 shares of the business’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $126.14, for a total transaction of $613,671.10. Following the completion of the sale, the executive vice president now owns 13,916 shares in the company, valued at approximately $1,755,364.24. The disclosure for this sale can be found here. Insiders sold a total of 497,712 shares of company stock valued at $63,633,786 in the last 90 days. Company insiders own 8.26% of the company’s stock.
PTC Company Profile
PTC, Inc is a global software company, which engages in the provision of portfolio of innovative digital solutions that work together to transform how physical products are engineered, manufactured, and serviced. It operates through the Software Products and Professional Services segments. The Software Products segment includes license, subscription, and related support revenue for its products.
Read More
Want to see what other hedge funds are holding PTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PTC Inc. (NASDAQ:PTC – Get Rating).
Receive News & Ratings for PTC Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for PTC and related companies with MarketBeat.com’s FREE daily email newsletter.