PTC Inc. (PTC) Stake Lessened by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its position in shares of PTC Inc. (NASDAQ:PTC) by 28.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,304,515 shares of the technology company’s stock after selling 521,592 shares during the period. Wells Fargo & Company MN owned about 1.13% of PTC worth $73,417,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its stake in PTC by 0.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 9,250 shares of the technology company’s stock worth $510,000 after acquiring an additional 54 shares in the last quarter. Advisor Group Inc. raised its stake in PTC by 7.4% during the 2nd quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock worth $150,000 after acquiring an additional 186 shares in the last quarter. Utah Retirement Systems raised its stake in PTC by 1.0% during the 2nd quarter. Utah Retirement Systems now owns 21,000 shares of the technology company’s stock worth $1,158,000 after acquiring an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PTC by 6.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,092 shares of the technology company’s stock worth $226,000 after acquiring an additional 247 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. raised its stake in PTC by 4.8% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 5,860 shares of the technology company’s stock worth $323,000 after acquiring an additional 267 shares in the last quarter. 97.99% of the stock is owned by institutional investors and hedge funds.

In other PTC news, Director Robert Schechter sold 1,128 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $66.88, for a total value of $75,440.64. Following the sale, the director now owns 64,826 shares of the company’s stock, valued at $4,335,562.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James E. Heppelmann sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $64.58, for a total transaction of $1,614,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,924 shares of company stock worth $3,627,304. 1.11% of the stock is owned by insiders.

Several equities research analysts recently commented on PTC shares. Wedbush reiterated an “outperform” rating and set a $57.00 price target on shares of PTC in a research note on Thursday, October 5th. Evercore ISI set a $65.00 price target on shares of PTC and gave the stock a “buy” rating in a research note on Monday, August 28th. Bank of America started coverage on shares of PTC in a research note on Monday, November 6th. They set an “underperform” rating and a $60.00 price target on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $74.00 price target on shares of PTC in a research note on Friday, October 27th. Finally, BidaskClub upgraded shares of PTC from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $65.88.

PTC Inc. (NASDAQ PTC) opened at $61.52 on Thursday. PTC Inc. has a one year low of $45.72 and a one year high of $67.12. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.80. The stock has a market cap of $7,145.19, a PE ratio of 104.29 and a beta of 1.33.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $306.38 million for the quarter, compared to analysts’ expectations of $306.59 million. PTC had a return on equity of 8.08% and a net margin of 0.54%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 EPS. research analysts predict that PTC Inc. will post 0.81 EPS for the current year.

PTC announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 19th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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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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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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