Pictet Asset Management Ltd. Purchases New Position in PTC Inc. (PTC)
Pictet Asset Management Ltd. purchased a new position in PTC Inc. (NASDAQ:PTC) during the second quarter, Holdings Channel reports. The institutional investor purchased 539,980 shares of the technology company’s stock, valued at approximately $31,092,000.
Other hedge funds have also recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in shares of PTC by 10.0% in the first quarter. Toronto Dominion Bank now owns 2,475 shares of the technology company’s stock worth $130,000 after buying an additional 225 shares during the period. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of PTC during the first quarter worth about $132,000. US Bancorp DE increased its stake in shares of PTC by 56.2% in the second quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock worth $144,000 after buying an additional 937 shares during the period. First Mercantile Trust Co. purchased a new stake in shares of PTC during the first quarter worth about $177,000. Finally, Flinton Capital Management LLC increased its stake in shares of PTC by 9.1% in the first quarter. Flinton Capital Management LLC now owns 3,456 shares of the technology company’s stock worth $182,000 after buying an additional 288 shares during the period. 96.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PTC Inc. (NASDAQ:PTC) opened at 52.54 on Friday. The stock has a 50 day moving average of $55.95 and a 200-day moving average of $54.84. The firm’s market capitalization 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 issued its earnings results on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. The company had revenue of $291.92 million for the quarter, compared to analyst estimates of $290.55 million. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. On average, equities research analysts anticipate that PTC Inc. will post $1.20 EPS for the current fiscal year.
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A number of analysts recently issued reports on the stock. BidaskClub downgraded shares of PTC from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Wedbush upped their price objective on shares of PTC from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, April 20th. Barclays PLC upped their price objective on shares of PTC from $60.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, April 20th. Goldman Sachs Group, Inc. (The) began coverage on shares of PTC in a research report on Monday, July 17th. They set a “neutral” rating and a $62.00 price objective for the company. Finally, Griffin Securities upped their price objective on shares of PTC from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company. PTC currently has a consensus rating of “Buy” and an average target price of $62.25.
In other news, EVP Barry F. Cohen sold 27,374 shares of PTC stock in a transaction on 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 completion of the transaction, the executive vice president now owns 79,729 shares of the company’s stock, valued at approximately $4,358,784.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Anthony Dibona sold 2,205 shares of PTC stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $55.88, for a total value of $123,215.40. Following the transaction, the executive vice president now directly owns 22,228 shares of the company’s stock, valued at approximately $1,242,100.64. The disclosure for this sale can be found here. Insiders have sold a total of 65,329 shares of company stock worth $3,588,097 over the last 90 days. 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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