PTC Inc. (NASDAQ:PTC) Position Increased by Tdam USA Inc.
Tdam USA Inc. raised its stake in shares of PTC Inc. (NASDAQ:PTC) by 10.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,652 shares of the technology company’s stock after buying an additional 4,115 shares during the period. Tdam USA Inc.’s holdings in PTC were worth $2,461,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its position in shares of PTC by 10,192.0% in the first quarter. BlackRock Inc. now owns 10,303,522 shares of the technology company’s stock valued at $541,450,000 after buying an additional 10,203,410 shares in the last quarter. FMR LLC raised its position in shares of PTC by 115.0% in the first quarter. FMR LLC now owns 5,150,179 shares of the technology company’s stock valued at $270,642,000 after buying an additional 2,755,079 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in shares of PTC during the first quarter valued at about $130,787,000. Thornburg Investment Management Inc. acquired a new position in shares of PTC during the first quarter valued at about $109,170,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of PTC during the first quarter valued at about $53,169,000. 96.40% of the stock is currently owned by institutional investors.
Shares of PTC Inc. (NASDAQ:PTC) opened at 54.06 on Monday. The stock’s market cap is $6.25 billion. PTC Inc. has a 1-year low of $39.78 and a 1-year high of $60.22. The firm’s 50-day moving average price is $56.64 and its 200 day moving average price is $54.72.
PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.28. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. The business had revenue of $291.92 million for the quarter, compared to analysts’ expectations of $290.55 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. On average, equities analysts expect that PTC Inc. will post $1.20 earnings per share for the current fiscal year.
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PTC has been the topic of several recent analyst reports. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $68.00 target price on shares of PTC in a research report on Thursday, July 20th. Zacks Investment Research lowered PTC from a “hold” rating to a “sell” rating in a research report on Saturday, April 22nd. Pacific Crest upped their target price on PTC from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Tuesday, June 6th. Benchmark Co. initiated coverage on PTC in a research report on Thursday, May 18th. They set a “buy” rating and a $65.00 target price on the stock. Finally, Guggenheim reaffirmed a “neutral” rating and set a $50.00 target price on shares of PTC in a research report on Tuesday, April 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $62.25.
In related news, insider James E. Heppelmann sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $55.27, for a total transaction of $1,381,750.00. Following the transaction, the insider now owns 561,022 shares of the company’s stock, valued at $31,007,685.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Donald K. Grierson sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $53.77, for a total value of $268,850.00. Following the transaction, the director now directly owns 62,300 shares in the company, valued at approximately $3,349,871. The disclosure for this sale can be found here. Insiders have sold 65,329 shares of company stock worth $3,588,097 in the last quarter. Insiders own 1.02% of the company’s stock.
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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