Investors Purchase Large Volume of Call Options on PTC (PTC)

PTC Inc (NASDAQ:PTC) saw unusually large options trading activity on Thursday. Stock traders purchased 1,241 call options on the company. This represents an increase of approximately 1,220% compared to the typical volume of 94 call options.

PTC (NASDAQ PTC) opened at $60.00 on Friday. PTC has a 12 month low of $45.86 and a 12 month high of $67.12. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.80. The stock has a market cap of $6,960.00, a price-to-earnings ratio of 1,500.00 and a beta of 1.33.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, October 25th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). PTC had a net margin of 0.54% and a return on equity of 8.08%. The firm had revenue of $306.38 million during the quarter, compared to analyst estimates of $306.59 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. equities analysts anticipate that PTC will post 0.81 earnings per share for the current fiscal year.

PTC declared that its board has initiated a share repurchase plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.

In other PTC news, VP Staats Aaron C. Von sold 9,947 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $64.67, for a total value of $643,272.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Anthony Dibona sold 10,929 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $65.25, for a total transaction of $713,117.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,924 shares of company stock valued at $3,627,304. Insiders own 1.11% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in PTC by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 9,349,753 shares of the technology company’s stock worth $515,359,000 after purchasing an additional 161,122 shares during the last quarter. FMR LLC grew its position in PTC by 31.1% in the 2nd quarter. FMR LLC now owns 6,753,178 shares of the technology company’s stock worth $372,235,000 after purchasing an additional 1,602,999 shares during the last quarter. Epoch Investment Partners Inc. grew its position in PTC by 7.8% in the 3rd quarter. Epoch Investment Partners Inc. now owns 4,657,693 shares of the technology company’s stock worth $262,135,000 after purchasing an additional 337,109 shares during the last quarter. OZ Management LP acquired a new stake in PTC in the 3rd quarter worth $187,542,000. Finally, State Street Corp grew its position in PTC by 2.1% in the 2nd quarter. State Street Corp now owns 3,005,066 shares of the technology company’s stock worth $165,643,000 after purchasing an additional 60,498 shares during the last quarter. Institutional investors and hedge funds own 99.89% of the company’s stock.

A number of research analysts have recently weighed in on the stock. Evercore ISI set a $65.00 price target on shares of PTC and gave the company a “buy” rating in a report on Thursday, October 19th. BidaskClub downgraded shares of PTC from a “hold” rating to a “sell” rating in a report on Monday, September 18th. Royal Bank of Canada restated a “buy” rating and set a $65.00 price target on shares of PTC in a report on Monday, September 4th. Bank of America assumed coverage on shares of PTC in a report on Monday, November 6th. They set an “underperform” rating and a $60.00 price target on the stock. Finally, Robert W. Baird set a $65.00 price target on shares of PTC and gave the company a “buy” rating in a report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $66.13.

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About PTC

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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