US Bancorp DE Boosts Stake in PTC Inc. (NASDAQ:PTC)

US Bancorp DE lifted its stake in shares of PTC Inc. (NASDAQ:PTC) by 67.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,165 shares of the technology company’s stock after buying an additional 5,717 shares during the quarter. US Bancorp DE’s holdings in PTC were worth $2,559,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Blue Trust Inc. raised its stake in PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after acquiring an additional 122 shares during the period. First Horizon Advisors Inc. raised its stake in PTC by 77.5% during the second 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 period. Rothschild Investment LLC acquired a new stake in PTC during the second quarter worth about $29,000. International Assets Investment Management LLC acquired a new stake in PTC during the second quarter worth about $30,000. Finally, OFI Invest Asset Management acquired a new stake in PTC during the second quarter worth about $31,000. Institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

PTC has been the topic of several research reports. Robert W. Baird increased their price objective on shares of PTC from $216.00 to $226.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $202.00 price target on shares of PTC in a research note on Thursday, August 1st. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Rosenblatt Securities restated a “buy” rating and issued a $195.00 price target on shares of PTC in a research note on Thursday, October 10th. Finally, Piper Sandler raised their price target on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.67.

PTC Trading Up 2.0 %

Shares of PTC stock opened at $189.99 on Wednesday. PTC Inc. has a 12-month low of $146.63 and a 12-month high of $194.24. The company has a market capitalization of $22.83 billion, a P/E ratio of 77.55, a P/E/G ratio of 2.72 and a beta of 1.17. The firm has a 50-day moving average price of $179.01 and a 200 day moving average price of $177.99. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

Insiders Place Their Bets

In other PTC news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the transaction, the director now directly owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.17% of the company’s stock.

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.