Utah Retirement Systems lifted its position in PTC Inc. (NASDAQ:PTC) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,000 shares of the technology company’s stock after buying an additional 200 shares during the period. Utah Retirement Systems’ holdings in PTC were worth $1,158,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tygh Capital Management Inc. increased its holdings in PTC by 16.6% during the 2nd quarter. Tygh Capital Management Inc. now owns 154,212 shares of the technology company’s stock worth $8,500,000 after purchasing an additional 21,972 shares in the last quarter. Zweig DiMenna Associates LLC bought a new position in PTC during the 2nd quarter worth about $6,325,000. MARSHALL WACE ASIA Ltd increased its holdings in PTC by 14.1% during the 2nd quarter. MARSHALL WACE ASIA Ltd now owns 410,796 shares of the technology company’s stock worth $22,593,000 after purchasing an additional 50,912 shares in the last quarter. Federated Investors Inc. PA increased its holdings in PTC by 4.0% during the 2nd quarter. Federated Investors Inc. PA now owns 54,922 shares of the technology company’s stock worth $3,027,000 after purchasing an additional 2,087 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in PTC by 16.8% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 130,003 shares of the technology company’s stock worth $7,166,000 after purchasing an additional 18,666 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.
A number of research firms have issued reports on PTC. Barclays PLC reiterated an “overweight” rating and set a $65.00 target price (down previously from $67.00) on shares of PTC in a report 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 report on Thursday, July 20th. Pacific Crest raised their price objective on PTC from $62.00 to $67.00 and gave the company an “overweight” rating in a report on Tuesday, June 6th. BidaskClub cut PTC from a “hold” rating to a “sell” rating in a report on Monday, September 18th. Finally, Robert W. Baird restated a “buy” rating and issued a $65.00 price objective on shares of PTC in a report on Thursday, August 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $62.65.
In related news, EVP Anthony Dibona sold 2,205 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $55.88, for a total transaction of $123,215.40. Following the sale, the executive vice president now directly owns 22,228 shares in the company, valued at approximately $1,242,100.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donald K. Grierson sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $53.77, for a total transaction of $268,850.00. Following the sale, the director now owns 62,300 shares in the company, valued at $3,349,871. The disclosure for this sale can be found here. Insiders have sold a total of 65,329 shares of company stock worth $3,588,097 over the last 90 days. 1.11% of the stock is currently owned by corporate insiders.
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Shares of PTC Inc. (NASDAQ PTC) opened at 56.94 on Friday. The firm’s market capitalization is $6.58 billion. PTC Inc. has a 52 week low of $43.01 and a 52 week high of $60.22. The company has a 50-day moving average of $54.68 and a 200 day moving average of $55.05.
PTC (NASDAQ:PTC) last released its earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.28. The firm had revenue of $291.92 million for 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 company’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share. Equities research analysts anticipate that PTC Inc. will post $1.20 earnings per share for the current year.
PTC announced that its board has initiated a stock buyback program on Tuesday, September 19th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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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