PNC Financial Services Group Inc. Sells 523 Shares of PTC Inc. (NASDAQ:PTC)

PNC Financial Services Group Inc. lessened its holdings in PTC Inc. (NASDAQ:PTC) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,240 shares of the technology company’s stock after selling 523 shares during the quarter. PNC Financial Services Group Inc.’s holdings in PTC were worth $1,669,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of PTC. Oregon Public Employees Retirement Fund grew its position in shares of PTC by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock worth $1,865,000 after buying an additional 61 shares in the last quarter. Diversified Trust Co grew its position in shares of PTC by 2.9% during the 2nd quarter. Diversified Trust Co now owns 2,193 shares of the technology company’s stock worth $398,000 after buying an additional 62 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after buying an additional 62 shares in the last quarter. IFM Investors Pty Ltd grew its position in shares of PTC by 0.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock worth $4,690,000 after buying an additional 66 shares in the last quarter. Finally, Metis Global Partners LLC grew its position in shares of PTC by 1.1% during the 3rd quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company’s stock worth $1,202,000 after buying an additional 73 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

PTC Trading Down 0.7 %

Shares of NASDAQ:PTC opened at $199.26 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a 52-week low of $153.44 and a 52-week high of $201.66. The stock has a market cap of $23.94 billion, a price-to-earnings ratio of 64.07, a PEG ratio of 2.68 and a beta of 1.17. The business has a 50-day moving average price of $185.37 and a 200-day moving average price of $179.58.

Insider Buying and Selling

In related news, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now owns 830 shares of the company’s stock, valued at $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Piper Sandler upped their price objective on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird upped their price objective on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Finally, Royal Bank of Canada upped their price objective on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.83.

About PTC

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.