World Asset Management Inc Acquires 775 Shares of PTC Inc. (PTC)
World Asset Management Inc raised its position in PTC Inc. (NASDAQ:PTC) by 10.2% during the second quarter, Holdings Channel reports. The institutional investor owned 8,377 shares of the technology company’s stock after buying an additional 775 shares during the period. World Asset Management Inc’s holdings in PTC were worth $462,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of PTC. Teachers Retirement System of The State of Kentucky boosted its stake in shares of PTC by 28.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 307,549 shares of the technology company’s stock worth $16,162,000 after buying an additional 67,926 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of PTC during the first quarter worth about $2,899,000. Mason Street Advisors LLC boosted its stake in shares of PTC by 1.3% in the first quarter. Mason Street Advisors LLC now owns 54,668 shares of the technology company’s stock worth $2,873,000 after buying an additional 713 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of PTC by 213.5% in the first quarter. Wellington Management Group LLP now owns 1,472,849 shares of the technology company’s stock worth $77,397,000 after buying an additional 1,003,004 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of PTC during the first quarter worth about $1,129,000. Hedge funds and other institutional investors own 96.40% of the company’s stock.
Shares of PTC Inc. (NASDAQ PTC) opened at 53.34 on Friday. The company’s market capitalization is $6.17 billion. PTC Inc. has a 12-month low of $41.14 and a 12-month high of $60.22. The firm’s 50-day moving average is $55.82 and its 200-day moving average is $54.87.
PTC (NASDAQ:PTC) last announced 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 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%. PTC’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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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PTC has been the subject of a number of recent research reports. Wedbush upped their price objective on shares of PTC from $59.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, April 20th. Robert W. Baird initiated coverage on shares of PTC in a report on Wednesday, May 10th. They issued an “outperform” rating and a $65.00 price objective for the company. 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 report on Thursday, April 20th. Zacks Investment Research cut shares of PTC from a “hold” rating to a “sell” rating in a report on Saturday, April 22nd. Finally, Guggenheim reiterated a “neutral” rating and issued a $50.00 price objective on shares of PTC in a report on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $62.25.
In related news, EVP Barry F. Cohen sold 27,374 shares of PTC stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $54.67, for a total transaction of $1,496,536.58. Following the completion of the sale, the executive vice president now owns 79,729 shares of the company’s stock, valued at approximately $4,358,784.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anthony Dibona sold 2,205 shares of PTC stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $55.88, for a total transaction of $123,215.40. Following the sale, 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 valued at $3,588,097 in the last ninety days. 1.11% of the stock is currently owned by insiders.
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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