New Jersey Better Educational Savings Trust Has $606,000 Stake in PTC Inc. (NASDAQ:PTC)
New Jersey Better Educational Savings Trust held its position in PTC Inc. (NASDAQ:PTC) during the second quarter, Holdings Channel reports. The firm owned 11,000 shares of the technology company’s stock at the end of the second quarter. New Jersey Better Educational Savings Trust’s holdings in PTC were worth $606,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Granite Investment Partners LLC increased its position in PTC by 1,259.0% in the second quarter. Granite Investment Partners LLC now owns 93,091 shares of the technology company’s stock worth $5,131,000 after buying an additional 86,241 shares during the period. Schwab Charles Investment Management Inc. increased its position in PTC by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 579,786 shares of the technology company’s stock worth $31,958,000 after buying an additional 7,852 shares during the period. Trent Capital Management Inc. NC bought a new position in PTC during the second quarter worth $233,000. Canada Pension Plan Investment Board increased its position in PTC by 5.0% in the second quarter. Canada Pension Plan Investment Board now owns 39,700 shares of the technology company’s stock worth $2,188,000 after buying an additional 1,900 shares during the period. Finally, Pictet Asset Management Ltd. bought a new position in PTC during the second quarter worth $31,092,000. 96.40% of the stock is currently owned by institutional investors and hedge funds.
PTC Inc. (PTC) opened at 53.84 on Thursday. The firm’s market capitalization is $6.22 billion. The firm’s 50-day moving average is $56.08 and its 200 day moving average is $54.86. PTC Inc. has a 52-week low of $41.08 and a 52-week high of $60.22.
PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The firm had revenue of $291.92 million for the quarter, compared to analyst estimates of $290.55 million. During the same period in the previous year, the business earned $0.26 EPS. The company’s revenue was up .8% compared to the same quarter last year. Equities analysts anticipate that PTC Inc. will post $1.20 EPS for the current year.
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A number of equities analysts have recently weighed in on the stock. BidaskClub downgraded shares of PTC from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Barclays PLC reaffirmed an “overweight” rating and issued a $65.00 price target (down from $67.00) on shares of PTC in a research note on Saturday, July 22nd. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $68.00 price target on shares of PTC in a research note on Thursday, July 20th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of PTC in a research note on Monday, July 17th. They issued a “neutral” rating and a $62.00 price target on the stock. Finally, Pacific Crest upped their price target on shares of PTC from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 6th. 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. PTC presently has an average rating of “Buy” and a consensus target price of $62.25.
In other news, EVP Anthony Dibona sold 2,205 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $55.88, for a total transaction of $123,215.40. Following the transaction, the executive vice president now directly owns 22,228 shares in the company, valued at approximately $1,242,100.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry F. Cohen sold 27,374 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $54.67, for a total transaction of $1,496,536.58. Following the transaction, the executive vice president now owns 79,729 shares in the company, valued at $4,358,784.43. The disclosure for this sale can be found here. Insiders sold a total of 65,329 shares of company stock worth $3,588,097 over the last quarter. Company insiders own 1.11% of the company’s stock.
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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