Short Interest in PTC Inc (NASDAQ:PTC) Declines By 8.7%

PTC Inc (NASDAQ:PTC) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 5,694,200 shares, a decline of 8.7% from the July 31st total of 6,235,200 shares. Currently, 5.5% of the shares of the stock are short sold. Based on an average trading volume of 1,280,000 shares, the days-to-cover ratio is currently 4.4 days.

Several research analysts recently issued reports on the company. Mizuho cut their price objective on PTC from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Zacks Investment Research downgraded PTC from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. BidaskClub upgraded PTC from a “sell” rating to a “hold” rating in a research report on Friday. Bank of America restated an “underperform” rating and set a $65.00 price objective (down from $80.00) on shares of PTC in a research report on Thursday, July 25th. Finally, Evercore ISI set a $104.00 price objective on PTC and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $92.13.

In related news, EVP Matthew Lessner Cohen sold 10,000 shares of PTC stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the transaction, the executive vice president now directly owns 25,672 shares in the company, valued at approximately $2,310,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Corinna Lathan sold 843 shares of PTC stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $64.48, for a total value of $54,356.64. The disclosure for this sale can be found here. Insiders have sold a total of 19,793 shares of company stock worth $1,586,532 in the last three months. Corporate insiders own 9.91% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Qube Research & Technologies Ltd acquired a new position in PTC in the 2nd quarter valued at $328,000. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of PTC during the 1st quarter valued at $5,897,000. State of New Jersey Common Pension Fund D grew its stake in shares of PTC by 4.9% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 430,000 shares of the technology company’s stock valued at $38,597,000 after buying an additional 20,000 shares during the period. Cleararc Capital Inc. purchased a new stake in shares of PTC during the 1st quarter valued at $252,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of PTC by 44.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 7,307 shares of the technology company’s stock valued at $656,000 after buying an additional 2,261 shares during the period. Institutional investors own 91.75% of the company’s stock.

PTC traded up $0.15 during trading on Friday, hitting $66.55. The company’s stock had a trading volume of 809,000 shares, compared to its average volume of 1,204,359. The firm’s 50 day moving average price is $67.20 and its 200-day moving average price is $84.59. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $7.72 billion, a PE ratio of 73.94, a PEG ratio of 1.99 and a beta of 1.14. PTC has a twelve month low of $62.05 and a twelve month high of $107.44.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.18. The company had revenue of $322.40 million during the quarter, compared to the consensus estimate of $322.42 million. PTC had a return on equity of 10.44% and a net margin of 2.63%. PTC’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 EPS. Equities analysts anticipate that PTC will post 1.09 earnings per share for the current year.

About PTC

PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

Further Reading: How Do Front-End Loads Impact an Investment?

Receive News & Ratings for PTC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit