Candriam Luxembourg S.C.A. Grows Stake in PTC Inc. (PTC)
Candriam Luxembourg S.C.A. grew its holdings in PTC Inc. (NASDAQ:PTC) by 7.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,825 shares of the technology company’s stock after purchasing an additional 6,208 shares during the period. Candriam Luxembourg S.C.A. owned approximately 0.08% of PTC worth $5,168,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Eagle Asset Management Inc. lifted its holdings in shares of PTC by 20.9% in the second quarter. Eagle Asset Management Inc. now owns 2,490,631 shares of the technology company’s stock valued at $137,283,000 after purchasing an additional 430,379 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of PTC by 70.6% in the second quarter. BNP Paribas Arbitrage SA now owns 43,611 shares of the technology company’s stock valued at $2,404,000 after purchasing an additional 18,048 shares in the last quarter. Tributary Capital Management LLC purchased a new stake in shares of PTC in the third quarter valued at $109,000. Canada Pension Plan Investment Board lifted its holdings in shares of PTC by 5.0% in the second quarter. Canada Pension Plan Investment Board now owns 39,700 shares of the technology company’s stock valued at $2,188,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its holdings in shares of PTC by 4.0% in the second quarter. Federated Investors Inc. PA now owns 54,922 shares of the technology company’s stock valued at $3,027,000 after purchasing an additional 2,087 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.
PTC Inc. (NASDAQ PTC) opened at $64.58 on Tuesday. PTC Inc. has a 1-year low of $45.57 and a 1-year high of $67.12. The company has a current ratio of 1.05, a quick ratio of 0.94 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $7,490.21, a PE ratio of 109.81 and a beta of 1.37.
PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, October 25th. The technology company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). PTC had a net margin of 0.54% and a return on equity of 8.08%. The company had revenue of $306.38 million for the quarter, compared to the consensus estimate of $306.59 million. During the same quarter last year, the business earned $0.20 earnings per share. PTC’s quarterly revenue was up 6.3% on a year-over-year basis. equities research analysts anticipate that PTC Inc. will post 0.81 EPS for the current year.
PTC announced that its Board of Directors has initiated a stock buyback plan on Tuesday, September 19th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
Several analysts recently issued reports on PTC shares. J P Morgan Chase & Co reiterated an “overweight” rating and set a $68.00 price objective on shares of PTC in a report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) started coverage on PTC in a report on Monday, July 17th. They set a “neutral” rating and a $62.00 price objective for the company. Evercore ISI set a $65.00 price objective on PTC and gave the stock a “buy” rating in a report on Monday, August 28th. Robert W. Baird reiterated a “buy” rating and set a $65.00 price objective on shares of PTC in a report on Thursday, August 31st. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 price objective on shares of PTC in a report on Monday, September 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. PTC currently has an average rating of “Buy” and an average price target of $65.59.
In other news, Director Robert Schechter sold 1,128 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $66.88, for a total value of $75,440.64. Following the sale, the director now directly owns 64,826 shares of the company’s stock, valued at $4,335,562.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul A. Lacy sold 4,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $65.81, for a total value of $263,240.00. Following the completion of the sale, the director now directly owns 61,486 shares in the company, valued at $4,046,393.66. The disclosure for this sale can be found here. 1.02% of the stock is owned by company 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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