BlackRock Group LTD raised its stake in PTC Inc. (NASDAQ:PTC) by 38.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 241,995 shares of the company’s stock after buying an additional 67,415 shares during the period. BlackRock Group LTD owned about 0.21% of PTC worth $10,723,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in PTC. Tower Research Capital LLC TRC boosted its stake in shares of PTC by 221.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,044 shares of the company’s stock valued at $114,000 after buying an additional 2,098 shares during the period. Meeder Asset Management Inc. bought a new position in PTC during the third quarter valued at approximately $114,000. US Bancorp DE raised its position in PTC by 1.8% in the second quarter. US Bancorp DE now owns 3,595 shares of the company’s stock valued at $136,000 after buying an additional 65 shares in the last quarter. Bessemer Group Inc. raised its position in PTC by 99.8% in the second quarter. Bessemer Group Inc. now owns 3,739 shares of the company’s stock valued at $140,000 after buying an additional 1,868 shares in the last quarter. Finally, DIAM Co. Ltd. bought a new position in PTC during the third quarter valued at approximately $172,000. 96.97% of the stock is currently owned by institutional investors.
Shares of PTC Inc. (NASDAQ:PTC) traded down 0.06% during mid-day trading on Wednesday, reaching $49.44. 171,147 shares of the company traded hands. The company’s 50 day moving average is $47.61 and its 200 day moving average is $43.79. PTC Inc. has a 52-week low of $27.06 and a 52-week high of $49.93. The stock’s market capitalization is $5.72 billion.
PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, October 26th. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.10. The firm earned $288.20 million during the quarter, compared to analyst estimates of $297.91 million. PTC had a negative net margin of 4.92% and a positive return on equity of 10.56%. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. On average, equities analysts forecast that PTC Inc. will post $1.33 earnings per share for the current year.
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Several research analysts have recently commented on the company. Zacks Investment Research upgraded PTC from a “sell” rating to a “hold” rating in a report on Thursday, September 29th. KeyCorp reiterated a “buy” rating and set a $55.00 price target on shares of PTC in a report on Thursday, November 10th. Brean Capital reiterated a “buy” rating and set a $55.00 price target on shares of PTC in a report on Thursday, October 27th. Royal Bank Of Canada lifted their price target on PTC from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, November 9th. Finally, Pacific Crest set a $55.00 price target on PTC and gave the stock a “buy” rating in a report on Wednesday, November 9th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $50.40.
In related news, EVP Robert C. Gremley sold 14,621 shares of the stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $47.45, for a total transaction of $693,766.45. Following the sale, the executive vice president now owns 40,018 shares of the company’s stock, valued at $1,898,854.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Anthony Dibona sold 11,025 shares of the stock in a transaction on Friday, November 18th. The shares were sold at an average price of $48.72, for a total value of $537,138.00. Following the sale, the executive vice president now directly owns 32,884 shares in the company, valued at approximately $1,602,108.48. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
PTC Company Profile
PTC Inc develops and delivers technology solutions, which consists of software and services that transform the way the customers create, operate and service their products. The Company has two segments: Software Products and Services. Its Software Products segment includes license and related support revenue (including updates and technical support) for all of its products except training-related products.
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