UBS Asset Management Americas Inc. increased its stake in PTC Inc. (NASDAQ:PTC) by 3.9% during the second quarter, Holdings Channel reports. The fund owned 86,003 shares of the company’s stock after buying an additional 3,243 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.07% of PTC worth $3,232,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of PTC. Royce & Associates LP increased its stake in PTC by 35.5% in the first quarter. Royce & Associates LP now owns 1,589,100 shares of the company’s stock valued at $52,695,000 after buying an additional 416,000 shares during the last quarter. Chartwell Investment Partners LLC boosted its stake in shares of PTC by 220.4% in the second quarter. Chartwell Investment Partners LLC now owns 518,534 shares of the company’s stock worth $19,487,000 after buying an additional 356,710 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of PTC by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,360,836 shares of the company’s stock worth $78,286,000 after buying an additional 346,444 shares during the period. AXA boosted its stake in shares of PTC by 82.9% in the first quarter. AXA now owns 650,645 shares of the company’s stock worth $21,575,000 after buying an additional 294,904 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of PTC by 337.0% in the first quarter. Prudential Financial Inc. now owns 369,923 shares of the company’s stock worth $12,266,000 after buying an additional 285,280 shares during the period. Hedge funds and other institutional investors own 95.12% of the company’s stock.
PTC Inc. (NASDAQ:PTC) traded up 0.78% during trading on Tuesday, reaching $45.46. The company had a trading volume of 472,380 shares. PTC Inc. has a 12-month low of $27.06 and a 12-month high of $46.80. The firm’s market capitalization is $5.23 billion. The firm’s 50 day moving average price is $43.20 and its 200 day moving average price is $38.29.
PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.05. The company earned $289.70 million during the quarter, compared to analyst estimates of $288.77 million. PTC had a negative net margin of 1.60% and a positive return on equity of 16.92%. PTC’s revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. Analysts anticipate that PTC Inc. will post $1.38 earnings per share for the current year.
A number of analysts have weighed in on PTC shares. Zacks Investment Research upgraded PTC from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. Evercore ISI started coverage on PTC in a report on Wednesday, September 14th. They set a “buy” rating and a $50.00 target price on the stock. Citigroup Inc. started coverage on PTC in a report on Monday, August 1st. They set a “buy” rating and a $48.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and set a $43.00 target price on shares of PTC in a report on Friday, July 15th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $41.70.
In other news, Director Donald K. Grierson sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $39.41, for a total transaction of $197,050.00. Following the completion of the transaction, the director now owns 74,829 shares of the company’s stock, valued at approximately $2,949,010.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Matthew Lessner Cohen sold 8,000 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $42.57, for a total value of $340,560.00. Following the transaction, the executive vice president now directly owns 14,607 shares of the company’s stock, valued at approximately $621,819.99. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
PTC Company Profile
PTC Inc develops and delivers technology solutions, which consists of software and services that transform the way the customers create, operate and service their products. The Company has two segments: Software Products and Services. Its Software Products segment includes license and related support revenue (including updates and technical support) for all of its products except training-related products.
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