M&T Bank Corp Increases Stock Position in PTC Inc. (NASDAQ:PTC)

M&T Bank Corp grew its stake in PTC Inc. (NASDAQ:PTC) by 8.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,522 shares of the technology company’s stock after acquiring an additional 724 shares during the period. M&T Bank Corp’s holdings in PTC were worth $1,475,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in PTC by 16.5% during the first quarter. Fifth Third Bancorp now owns 3,334 shares of the technology company’s stock worth $517,000 after purchasing an additional 473 shares during the period. Mather Group LLC. grew its holdings in shares of PTC by 18.3% in the first quarter. Mather Group LLC. now owns 845 shares of the technology company’s stock valued at $131,000 after purchasing an additional 131 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in PTC by 20.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,510 shares of the technology company’s stock worth $2,091,000 after buying an additional 2,285 shares during the period. Proficio Capital Partners LLC acquired a new stake in PTC during the 4th quarter worth approximately $8,858,000. Finally, Avantax Advisory Services Inc. purchased a new position in PTC in the 4th quarter valued at approximately $223,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PTC has been the topic of a number of recent research reports. Robert W. Baird upped their price objective on PTC from $185.00 to $191.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. KeyCorp restated an “overweight” rating and set a $192.00 price target (up previously from $185.00) on shares of PTC in a report on Monday, July 7th. BMO Capital Markets lifted their price objective on PTC from $183.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Piper Sandler cut their target price on shares of PTC from $202.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Finally, Mizuho reduced their target price on shares of PTC from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $189.23.

Insider Buying and Selling

In other news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the sale, the executive vice president owned 17,731 shares of the company’s stock, valued at $2,836,960. The trade was a 10.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

PTC Stock Down 0.6%

PTC stock opened at $193.51 on Monday. The company has a market capitalization of $23.21 billion, a P/E ratio of 53.16, a PEG ratio of 2.66 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $213.14. The stock has a 50-day simple moving average of $171.26 and a 200-day simple moving average of $167.85.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.37 by $0.42. The firm had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. PTC had a net margin of 18.77% and a return on equity of 15.35%. PTC’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. Equities research analysts expect that PTC Inc. will post 4.46 earnings per share for the current year.

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.