Canandaigua National Bank & Trust Co. Has $206,000 Position in PTC Inc. (NASDAQ:PTC)

Canandaigua National Bank & Trust Co. trimmed its position in shares of PTC Inc. (NASDAQ:PTC) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,118 shares of the technology company’s stock after selling 95 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in PTC were worth $206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd lifted its holdings in PTC by 70.8% during the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after buying an additional 80 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of PTC by 66.4% in the second quarter. Brown Brothers Harriman & Co. now owns 233 shares of the technology company’s stock worth $42,000 after acquiring an additional 93 shares during the period. Brooklyn Investment Group acquired a new position in shares of PTC in the third quarter worth approximately $66,000. Park Place Capital Corp bought a new stake in PTC in the third quarter valued at approximately $67,000. Finally, Resources Management Corp CT ADV raised its holdings in PTC by 95.3% during the 2nd quarter. Resources Management Corp CT ADV now owns 713 shares of the technology company’s stock worth $130,000 after purchasing an additional 348 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

PTC Trading Down 0.9 %

PTC opened at $183.09 on Wednesday. PTC Inc. has a fifty-two week low of $163.30 and a fifty-two week high of $203.09. The firm has a market capitalization of $21.99 billion, a PE ratio of 58.87, a P/E/G ratio of 2.70 and a beta of 1.18. 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 company’s 50-day moving average is $192.35 and its 200 day moving average is $182.68.

Insider Transactions at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the sale, the chief accounting officer now owns 830 shares in the company, valued at approximately $160,356. This trade represents a 67.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Corinna Lathan sold 860 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the transaction, the director now owns 6,843 shares in the company, valued at $1,368,600. The trade was a 11.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock valued at $3,630,716 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PTC shares. Stifel Nicolaus upped their price objective on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price target on shares of PTC in a report on Thursday, October 10th. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Piper Sandler raised their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada boosted their price target on PTC from $202.00 to $230.00 and gave the company an “outperform” 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. Based on data from MarketBeat, PTC currently has an average rating of “Moderate Buy” and an average 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.