PTC Inc. (PTC) Shares Bought by Principal Financial Group Inc.
Principal Financial Group Inc. increased its stake in PTC Inc. (NASDAQ:PTC) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 420,307 shares of the company’s stock after buying an additional 34,744 shares during the period. Principal Financial Group Inc. owned about 0.37% of PTC worth $15,795,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC boosted its stake in shares of PTC by 1.8% in the second quarter. Jennison Associates LLC now owns 3,591,550 shares of the company’s stock valued at $134,970,000 after buying an additional 62,504 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of PTC by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,343,404 shares of the company’s stock valued at $110,867,000 after buying an additional 19,675 shares during the period. State Street Corp boosted its stake in shares of PTC by 1.1% in the first quarter. State Street Corp now owns 2,994,019 shares of the company’s stock valued at $99,277,000 after buying an additional 33,079 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of PTC by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,360,836 shares of the company’s stock valued at $78,286,000 after buying an additional 346,444 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of PTC by 35.5% in the first quarter. Royce & Associates LP now owns 1,589,100 shares of the company’s stock valued at $52,695,000 after buying an additional 416,000 shares during the period. 95.12% of the stock is owned by institutional investors and hedge funds.
PTC Inc. (NASDAQ:PTC) traded down 0.68% during midday trading on Thursday, reaching $45.58. 35,291 shares of the company’s stock were exchanged. The stock’s market cap is $5.24 billion. The firm has a 50 day moving average of $43.41 and a 200-day moving average of $38.44. PTC Inc. has a 12 month low of $27.06 and a 12 month high of $46.80.
PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by $0.05. The business had revenue of $289.70 million for the quarter, compared to analysts’ expectations of $288.77 million. PTC had a positive return on equity of 16.92% and a negative net margin of 1.60%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. On average, equities research analysts predict that PTC Inc. will post $1.38 earnings per share for the current year.
PTC has been the subject of several analyst reports. Evercore ISI initiated coverage on shares of PTC in a research report on Wednesday, September 14th. They issued a “buy” rating and a $50.00 target price for the company. Citigroup Inc. initiated coverage on shares of PTC in a research report on Monday, August 1st. They issued a “buy” rating and a $48.00 target price for the company. Zacks Investment Research upgraded shares of PTC from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Wedbush restated an “outperform” rating and issued a $43.00 target price on shares of PTC in a research report on Friday, July 15th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. PTC currently has a consensus rating of “Buy” and a consensus target price of $41.70.
In related news, Director Donald K. Grierson sold 5,000 shares of PTC stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $39.41, for a total value of $197,050.00. Following the sale, the director now owns 74,829 shares in the company, valued at $2,949,010.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul A. Lacy sold 8,779 shares of PTC stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $40.42, for a total transaction of $354,847.18. Following the completion of the sale, the director now owns 60,143 shares in the company, valued at approximately $2,430,980.06. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.
PTC Inc develops and delivers technology solutions, which consists of software and services that transform the way the customers create, operate and service their products. The Company has two segments: Software Products and Services. Its Software Products segment includes license and related support revenue (including updates and technical support) for all of its products except training-related products.
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