Bank of Montreal Can Sells 9,257 Shares of PTC Inc. (NASDAQ:PTC)

Bank of Montreal Can lowered its holdings in shares of PTC Inc. (NASDAQ:PTC) by 5.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 146,674 shares of the technology company’s stock after selling 9,257 shares during the period. Bank of Montreal Can’s holdings in PTC were worth $26,721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Horizon Advisors Inc. boosted 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 worth $26,000 after purchasing an additional 62 shares in the last quarter. Blue Trust Inc. boosted its holdings in 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 acquiring an additional 122 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of PTC in the second quarter worth $29,000. International Assets Investment Management LLC bought a new position in shares of PTC during the second quarter valued at $30,000. Finally, OFI Invest Asset Management purchased a new position in shares of PTC in the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Activity

In other news, Director Corinna Lathan sold 860 shares of PTC stock in a transaction on Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the transaction, the director now owns 6,843 shares in the company, valued at $1,368,600. This trade represents a 11.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at approximately $160,356. The trade was a 67.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

PTC Stock Up 0.5 %

PTC stock opened at $200.06 on Friday. The company has a market cap of $24.03 billion, a price-to-earnings ratio of 64.33, a P/E/G ratio of 2.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The business’s 50-day moving average is $186.73 and its two-hundred day moving average is $179.99. PTC Inc. has a fifty-two week low of $154.73 and a fifty-two week high of $201.66.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and reduced their price objective for the company from $210.00 to $196.00 in a research note on Friday, November 1st. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Robert W. Baird upped their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their target price on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price target on shares of PTC in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.