Fifth Third Bancorp Increases Stake in PTC Inc. (NASDAQ:PTC)

Fifth Third Bancorp raised its stake in shares of PTC Inc. (NASDAQ:PTC) by 9.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,377 shares of the technology company’s stock after buying an additional 212 shares during the quarter. Fifth Third Bancorp’s holdings in PTC were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in PTC. Blue Trust Inc. grew its holdings in shares of PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of PTC by 77.5% in the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after purchasing an additional 62 shares in the last quarter. Lindbrook Capital LLC grew its holdings in shares of PTC by 108.3% in the fourth quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock valued at $31,000 after purchasing an additional 91 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of PTC in the second quarter valued at $31,000. Finally, Riverview Trust Co purchased a new position in shares of PTC in the first quarter valued at $34,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Catherine Kniker sold 1,254 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.45, for a total transaction of $217,506.30. Following the transaction, the insider now owns 13,598 shares in the company, valued at $2,358,573.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $178.20, for a total transaction of $712,800.00. Following the transaction, the director now owns 52,137 shares in the company, valued at $9,290,813.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Catherine Kniker sold 1,254 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total value of $217,506.30. Following the transaction, the insider now owns 13,598 shares in the company, valued at approximately $2,358,573.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,254 shares of company stock worth $3,361,636. Company insiders own 1.17% of the company’s stock.

PTC Stock Up 1.3 %

NASDAQ:PTC opened at $177.31 on Friday. PTC Inc. has a twelve month low of $134.61 and a twelve month high of $194.24. The company has a market cap of $21.30 billion, a price-to-earnings ratio of 74.19, a price-to-earnings-growth ratio of 3.23 and a beta of 1.18. The stock has a fifty day simple moving average of $176.75 and a 200-day simple moving average of $179.64. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Mizuho restated a “neutral” rating and issued a $190.00 price target (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Rosenblatt Securities raised their price target on PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird raised their price target on PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, Citigroup lowered their price target on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $200.18.

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.