Granite Investment Partners LLC Has $5.13 Million Stake in PTC Inc. (NASDAQ:PTC)
Granite Investment Partners LLC increased its stake in PTC Inc. (NASDAQ:PTC) by 1,259.0% during the second quarter, Holdings Channel reports. The fund owned 93,091 shares of the technology company’s stock after buying an additional 86,241 shares during the period. Granite Investment Partners LLC’s holdings in PTC were worth $5,131,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of PTC. Guggenheim Capital LLC boosted its stake in shares of PTC by 122.3% in the fourth quarter. Guggenheim Capital LLC now owns 26,804 shares of the technology company’s stock valued at $1,241,000 after buying an additional 14,745 shares during the last quarter. AQR Capital Management LLC boosted its position in PTC by 115.2% in the fourth quarter. AQR Capital Management LLC now owns 16,700 shares of the technology company’s stock worth $773,000 after buying an additional 8,941 shares in the last quarter. Quadrature Capital Ltd acquired a new position in PTC during the fourth quarter worth approximately $362,000. Teachers Advisors LLC boosted its position in PTC by 235.8% in the fourth quarter. Teachers Advisors LLC now owns 369,978 shares of the technology company’s stock worth $17,119,000 after buying an additional 259,801 shares in the last quarter. Finally, Highbridge Capital Management LLC boosted its position in PTC by 272.0% in the fourth quarter. Highbridge Capital Management LLC now owns 9,805 shares of the technology company’s stock worth $454,000 after buying an additional 15,505 shares in the last quarter. 96.40% of the stock is currently owned by institutional investors.
Shares of PTC Inc. (PTC) opened at 52.54 on Friday. The firm’s 50-day moving average price is $55.95 and its 200-day moving average price is $54.84. The stock’s market cap is $6.07 billion. PTC Inc. has a 12-month low of $41.14 and a 12-month high of $60.22.
PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. The business had revenue of $291.92 million during the quarter, compared to the consensus estimate of $290.55 million. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. On average, analysts forecast that PTC Inc. will post $1.20 EPS for the current fiscal year.
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A number of research firms have recently commented on PTC. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $68.00 target price on shares of PTC in a research note on Thursday, July 20th. Pacific Crest upped their target price on PTC from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) began coverage on PTC in a research note on Monday, July 17th. They set a “neutral” rating and a $62.00 target price on the stock. Barclays PLC reaffirmed an “overweight” rating and set a $65.00 target price (down previously from $67.00) on shares of PTC in a research note on Saturday, July 22nd. Finally, BidaskClub cut PTC from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $62.25.
In other PTC news, EVP Barry F. Cohen sold 27,374 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $54.67, for a total value of $1,496,536.58. Following the completion of the transaction, the executive vice president now owns 79,729 shares in the company, valued at $4,358,784.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Donald K. Grierson sold 5,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $53.77, for a total transaction of $268,850.00. Following the completion of the transaction, the director now owns 62,300 shares of the company’s stock, valued at approximately $3,349,871. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,329 shares of company stock valued at $3,588,097. 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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