Symphony Asset Management LLC Raises Stake in PTC Inc. (PTC)

Symphony Asset Management LLC increased its stake in PTC Inc. (NASDAQ:PTC) by 10.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,629 shares of the technology company’s stock after acquiring an additional 2,636 shares during the period. Symphony Asset Management LLC’s holdings in PTC were worth $1,522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PTC. BlackRock Inc. grew its position in PTC by 10,192.0% in the first quarter. BlackRock Inc. now owns 10,303,522 shares of the technology company’s stock worth $541,450,000 after acquiring an additional 10,203,410 shares in the last quarter. FMR LLC boosted its position in shares of PTC by 115.0% during the first quarter. FMR LLC now owns 5,150,179 shares of the technology company’s stock valued at $270,642,000 after buying an additional 2,755,079 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of PTC during the first quarter valued at approximately $130,787,000. Massachusetts Financial Services Co. MA purchased a new position in shares of PTC during the first quarter valued at approximately $53,169,000. Finally, Wellington Management Group LLP boosted its position in shares of PTC by 213.5% during the first quarter. Wellington Management Group LLP now owns 1,472,849 shares of the technology company’s stock valued at $77,397,000 after buying an additional 1,003,004 shares during the period. Institutional investors own 98.15% of the company’s stock.

In related news, VP Staats Aaron C. Von sold 5,750 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.26, for a total transaction of $317,745.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Barry F. Cohen sold 27,374 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $54.67, for a total transaction of $1,496,536.58. Following the transaction, the executive vice president now directly owns 79,729 shares of the company’s stock, valued at approximately $4,358,784.43. The disclosure for this sale can be found here. Insiders have sold a total of 65,329 shares of company stock valued at $3,588,097 in the last ninety days. 1.02% of the stock is currently owned by corporate insiders.

PTC has been the subject of several recent analyst reports. Benchmark Co. initiated coverage on PTC in a research report on Thursday, May 18th. They set a “buy” rating and a $65.00 target price for the company. Pacific Crest boosted their target price on PTC from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) initiated coverage on PTC in a research report on Monday, July 17th. They set a “neutral” rating and a $62.00 target price for the company. J P Morgan Chase & Co restated an “overweight” rating and set a $68.00 target price on shares of PTC in a research report on Thursday, July 20th. Finally, Barclays PLC restated an “overweight” rating and set a $65.00 target price (down previously from $67.00) on shares of PTC in a research report on Saturday, July 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. PTC currently has an average rating of “Buy” and an average target price of $62.65.

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Shares of PTC Inc. (NASDAQ:PTC) traded up 0.27% during mid-day trading on Tuesday, hitting $56.20. The company had a trading volume of 179,337 shares. The firm has a 50-day moving average price of $54.65 and a 200 day moving average price of $55.03. PTC Inc. has a 52-week low of $42.91 and a 52-week high of $60.22. The firm’s market capitalization is $6.50 billion.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.28 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.28. The firm had revenue of $291.92 million during the quarter, compared to analysts’ expectations of $290.55 million. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company posted $0.26 EPS. Analysts expect that PTC Inc. will post $1.20 earnings per share for the current year.

About PTC

PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.

Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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