Capital Investment Services of America Inc. lessened its position in shares of PTC Inc (NASDAQ:PTC) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 199,884 shares of the technology company’s stock after selling 12,940 shares during the period. PTC makes up about 1.9% of Capital Investment Services of America Inc.’s portfolio, making the stock its 25th largest holding. Capital Investment Services of America Inc. owned approximately 0.17% of PTC worth $12,147,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in PTC. AXA boosted its stake in PTC by 15.9% during the third quarter. AXA now owns 1,161,468 shares of the technology company’s stock worth $65,367,000 after acquiring an additional 159,329 shares in the last quarter. Jane Street Group LLC bought a new position in PTC during the third quarter worth $907,000. Vident Investment Advisory LLC boosted its stake in PTC by 63.4% during the third quarter. Vident Investment Advisory LLC now owns 223,957 shares of the technology company’s stock worth $12,604,000 after acquiring an additional 86,925 shares in the last quarter. Lagoda Investment Management L.P. boosted its stake in PTC by 6.7% during the third quarter. Lagoda Investment Management L.P. now owns 135,038 shares of the technology company’s stock worth $7,600,000 after acquiring an additional 8,510 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of PTC by 8.1% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 200,000 shares of the technology company’s stock valued at $11,256,000 after buying an additional 15,000 shares in the last quarter.
Shares of PTC Inc (PTC) traded up $0.14 during midday trading on Tuesday, hitting $65.93. 815,000 shares of the company traded hands, compared to its average volume of 767,056. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.80. PTC Inc has a 12 month low of $46.87 and a 12 month high of $67.12. The stock has a market capitalization of $7,660.00, a P/E ratio of 1,648.25 and a beta of 1.34.
PTC declared that its board has initiated a stock buyback plan on Tuesday, September 19th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
Several analysts have recently commented on the stock. BidaskClub downgraded shares of PTC from a “hold” rating to a “sell” rating in a report on Monday, September 18th. Wedbush restated an “outperform” rating and set a $57.00 price objective on shares of PTC in a report on Thursday, October 5th. Robert W. Baird set a $65.00 price objective on shares of PTC and gave the stock a “buy” rating in a report on Friday, October 6th. Evercore ISI set a $65.00 price objective on shares of PTC and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, KeyCorp reiterated a “buy” rating and issued a $74.00 target price (up previously from $64.00) on shares of PTC in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $66.31.
In other PTC news, EVP Anthony Dibona sold 10,929 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $65.25, for a total transaction of $713,117.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul A. Lacy sold 4,000 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $65.81, for a total transaction of $263,240.00. Following the transaction, the director now owns 61,486 shares in the company, valued at approximately $4,046,393.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,924 shares of company stock worth $3,627,304. Company insiders own 1.02% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Capital Investment Services of America Inc. Trims Stake in PTC Inc (NASDAQ:PTC)” was published by BBNS and is owned by of BBNS. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at https://baseballnewssource.com/markets/ptc-inc-ptc-shares-sold-by-capital-investment-services-of-america-inc/1821040.html.
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.
Receive News & Ratings for PTC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC and related companies with MarketBeat.com's FREE daily email newsletter.