BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in PTC Inc. (NASDAQ:PTC) by 7.5% during the second quarter, Holdings Channel reports. The firm owned 185,000 shares of the technology company’s stock after selling 15,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in PTC were worth $10,197,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in PTC by 10,192.0% in the first quarter. BlackRock Inc. now owns 10,303,522 shares of the technology company’s stock valued at $541,450,000 after buying an additional 10,203,410 shares in the last quarter. Vanguard Group Inc. increased its stake in PTC by 4.9% in the first quarter. Vanguard Group Inc. now owns 9,188,631 shares of the technology company’s stock valued at $482,863,000 after buying an additional 430,924 shares in the last quarter. FMR LLC increased its stake in PTC by 115.0% in the first quarter. FMR LLC now owns 5,150,179 shares of the technology company’s stock valued at $270,642,000 after buying an additional 2,755,079 shares in the last quarter. State Street Corp increased its stake in PTC by 2.0% in the first quarter. State Street Corp now owns 2,944,568 shares of the technology company’s stock valued at $154,737,000 after buying an additional 58,720 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in PTC during the first quarter valued at $130,787,000. Hedge funds and other institutional investors own 98.40% of the company’s stock.
Shares of PTC Inc. (NASDAQ:PTC) opened at 52.99 on Friday. The stock’s market capitalization is $6.13 billion. The stock has a 50 day moving average of $55.34 and a 200 day moving average of $54.89. PTC Inc. has a 12-month low of $41.40 and a 12-month high of $60.22.
PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, meeting analysts’ consensus estimates of $0.28. The business 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 posted $0.26 EPS. Equities research analysts anticipate that PTC Inc. will post $1.20 EPS for the current fiscal year.
Several analysts have weighed in on PTC shares. J P Morgan Chase & Co reissued an “overweight” rating and set a $68.00 target price on shares of PTC in a research report on Thursday, July 20th. Zacks Investment Research downgraded shares of PTC from a “hold” rating to a “sell” rating in a research report on Saturday, April 22nd. Pacific Crest boosted their target price on shares of PTC from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. Benchmark Co. started coverage on shares of PTC in a research report on Thursday, May 18th. They set a “buy” rating and a $65.00 target price on the stock. Finally, Goldman Sachs Group, Inc. (The) started coverage on shares of PTC in a research report on Monday, July 17th. They set a “neutral” rating and a $62.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. PTC currently has an average rating of “Buy” and an average target price of $62.25.
In other news, insider James E. Heppelmann sold 25,000 shares of PTC stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $55.27, for a total value of $1,381,750.00. Following the transaction, the insider now directly owns 561,022 shares of the company’s stock, valued at approximately $31,007,685.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donald K. Grierson sold 5,000 shares of PTC stock in a transaction 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 completion of the transaction, the director now directly owns 62,300 shares in the company, valued at $3,349,871. The disclosure for this sale can be found here. Insiders sold a total of 65,329 shares of company stock worth $3,588,097 over the last ninety days. Corporate insiders own 1.11% of the company’s stock.
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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