Robecosam AG lowered its stake in shares of PTC Inc. (NASDAQ:PTC) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 385,300 shares of the technology company’s stock after selling 11,700 shares during the quarter. PTC accounts for about 1.8% of Robecosam AG’s portfolio, making the stock its 11th largest position. Robecosam AG owned 0.33% of PTC worth $21,388,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of PTC by 10,192.0% during the first quarter. BlackRock Inc. now owns 10,303,522 shares of the technology company’s stock worth $541,450,000 after purchasing an additional 10,203,410 shares in the last quarter. FMR LLC grew its stake 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 worth $270,642,000 after purchasing an additional 2,755,079 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of PTC during the second quarter worth $104,303,000. Newbrook Capital Advisors LP acquired a new position in shares of PTC during the second quarter worth $88,346,000. Finally, Wellington Management Group LLP grew its stake 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 worth $77,397,000 after purchasing an additional 1,003,004 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the stock. BidaskClub upgraded shares of PTC from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays PLC reiterated an “overweight” rating and set a $65.00 target price (down previously from $67.00) on shares of PTC in a research note on Saturday, July 22nd. J P Morgan Chase & Co reiterated an “overweight” rating and set a $68.00 target price on shares of PTC in a research note on Thursday, July 20th. Robert W. Baird reiterated a “buy” rating and set a $65.00 target price on shares of PTC in a research note on Thursday, August 31st. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of PTC in a research note on Monday, July 17th. They set a “neutral” rating and a $62.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. PTC has an average rating of “Buy” and an average price target of $63.31.
PTC Inc. (NASDAQ PTC) traded up 0.59% during trading on Thursday, reaching $59.68. 359,426 shares of the company’s stock traded hands. The stock’s market capitalization is $6.90 billion. PTC Inc. has a 1-year low of $43.10 and a 1-year high of $60.22. The stock has a 50-day moving average price of $56.15 and a 200 day moving average price of $55.30.
PTC (NASDAQ:PTC) last released its earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. The company had revenue of $291.92 million during the quarter, compared to the consensus estimate of $290.55 million. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 EPS. Equities research analysts expect that PTC Inc. will post $1.20 earnings per share for the current year.
PTC declared that its board has approved a stock buyback plan on Tuesday, September 19th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
In other news, Director Donald K. Grierson sold 5,000 shares of PTC stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $53.77, for a total value of $268,850.00. Following the completion of the transaction, the director now directly owns 62,300 shares of the company’s stock, valued at approximately $3,349,871. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Barry F. Cohen sold 27,374 shares of PTC stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $54.67, for a total transaction of $1,496,536.58. Following the completion of the transaction, the executive vice president now directly owns 79,729 shares of the company’s stock, valued at $4,358,784.43. The disclosure for this sale can be found here. Insiders sold a total of 65,329 shares of company stock valued at $3,588,097 over the last ninety days. Company insiders own 1.11% of the company’s stock.
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PTC Company Profile
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.
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