Flinton Capital Management LLC boosted its position in shares of PTC Inc. (NASDAQ:PTC) by 58.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,472 shares of the technology company’s stock after purchasing an additional 2,016 shares during the period. Flinton Capital Management LLC’s holdings in PTC were worth $302,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Stephens Inc. AR bought a new position in PTC during the 2nd quarter valued at about $126,000. US Bancorp DE grew its holdings in PTC by 56.2% during the 2nd quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock valued at $144,000 after purchasing an additional 937 shares during the last quarter. Advisor Group Inc. grew its holdings in PTC by 7.4% during the 2nd quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock valued at $150,000 after purchasing an additional 186 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in PTC by 85.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,013 shares of the technology company’s stock valued at $165,000 after purchasing an additional 1,389 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in PTC during the 1st quarter valued at about $189,000. Institutional investors own 97.92% of the company’s stock.
In related news, insider James E. Heppelmann sold 25,000 shares of PTC stock in a transaction that occurred 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 completion of the transaction, the insider now owns 561,022 shares in the company, valued at $31,007,685.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Staats Aaron C. Von sold 5,750 shares of PTC stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.26, for a total transaction of $317,745.00. 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 three months. Insiders own 1.11% of the company’s stock.
PTC Inc. (NASDAQ PTC) opened at 59.58 on Friday. The firm has a 50-day moving average of $56.30 and a 200-day moving average of $55.33. The company’s market capitalization is $6.89 billion. PTC Inc. has a 52 week low of $43.10 and a 52 week high of $60.22.
PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. The business had revenue of $291.92 million for the quarter, compared to the consensus estimate of $290.55 million. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. Analysts anticipate that PTC Inc. will post $1.20 EPS for the current fiscal year.
PTC declared that its Board of Directors has authorized a share repurchase plan on Tuesday, September 19th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
PTC has been the topic of several analyst reports. Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 price target on shares of PTC in a report on Monday, September 4th. Robert W. Baird reiterated a “buy” rating and set a $65.00 price target on shares of PTC in a report on Thursday, August 31st. Evercore ISI set a $65.00 price target on shares of PTC and gave the company a “buy” rating in a report on Monday, August 28th. Berenberg Bank initiated coverage on shares of PTC in a report on Wednesday, August 23rd. They set a “buy” rating and a $66.00 price target on the stock. Finally, BidaskClub upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $63.31.
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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