Lazard Asset Management LLC boosted its stake in shares of PTC Inc. (NASDAQ:PTC) by 125.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613,419 shares of the technology company’s stock after buying an additional 341,710 shares during the period. Lazard Asset Management LLC owned 0.53% of PTC worth $32,235,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the stock. Flinton Capital Management LLC acquired a new stake in PTC during the fourth quarter valued at about $147,000. ARK Investment Management LLC bought a new position in PTC during the fourth quarter valued at about $397,000. Shelton Capital Management increased its position in PTC by 1,654.9% in the fourth quarter. Shelton Capital Management now owns 195,000 shares of the technology company’s stock valued at $394,000 after buying an additional 183,888 shares during the last quarter. Bayesian Capital Management LP bought a new position in PTC during the fourth quarter valued at about $1,255,000. Finally, Elkfork Partners LLC acquired a new stake in PTC during the fourth quarter worth $312,000. Institutional investors own 96.40% of the company’s stock.
PTC Inc. (PTC) traded up 0.51% during midday trading on Monday, reaching $57.43. 827,400 shares of the company traded hands. PTC Inc. has a one year low of $34.68 and a one year high of $60.15. The company’s market capitalization is $6.63 billion. The stock’s 50 day moving average is $55.80 and its 200 day moving average is $52.65.
PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, April 19th. The technology company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $280 million during the quarter, compared to analyst estimates of $283.81 million. PTC had a positive return on equity of 7.22% and a negative net margin of 3.12%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 earnings per share. On average, equities analysts anticipate that PTC Inc. will post $1.21 earnings per share for the current year.
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A number of equities analysts have commented on PTC shares. Wedbush boosted their price target on shares of PTC from $59.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, April 20th. Seaport Global Securities started coverage on shares of PTC in a research note on Wednesday, March 1st. They set a “buy” rating and a $69.00 price target for the company. Robert W. Baird started coverage on shares of PTC in a research report on Wednesday, May 10th. They set an “outperform” rating and a $65.00 price objective for the company. Barclays PLC increased their price objective on shares of PTC from $60.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, April 20th. Finally, Royal Bank Of Canada increased their target price on shares of PTC from $55.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, March 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $61.73.
In other news, Director Robert Schechter sold 1,420 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $52.86, for a total transaction of $75,061.20. Following the completion of the transaction, the director now directly owns 65,954 shares in the company, valued at $3,486,328.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Anthony Dibona sold 3,308 shares of the firm’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $53.56, for a total value of $177,176.48. The disclosure for this sale can be found here. Insiders have sold 38,353 shares of company stock valued at $2,080,765 in the last three months. Insiders own 1.02% of the company’s stock.
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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