Public Employees Retirement Association of Colorado decreased its stake in PTC Inc. (NASDAQ:PTC) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 339,929 shares of the company’s stock after selling 2,279 shares during the period. Public Employees Retirement Association of Colorado’s holdings in PTC were worth $12,775,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in PTC. Essex Investment Management Co. LLC purchased a new position in PTC during the second quarter valued at $2,063,000. Candriam Luxembourg S.C.A. boosted its position in PTC by 33.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 17,000 shares of the company’s stock valued at $639,000 after buying an additional 4,300 shares in the last quarter. Diversified Trust Co boosted its position in PTC by 1.8% in the second quarter. Diversified Trust Co now owns 8,650 shares of the company’s stock valued at $325,000 after buying an additional 150 shares in the last quarter. Deltec Asset Management LLC purchased a new position in PTC during the second quarter valued at $752,000. Finally, Bank of Montreal Can purchased a new position in PTC during the second quarter valued at $2,939,000. Hedge funds and other institutional investors own 95.12% of the company’s stock.
Shares of PTC Inc. (NASDAQ:PTC) traded down 0.09% during midday trading on Thursday, hitting $45.10. The company had a trading volume of 440,002 shares. The company has a 50-day moving average of $43.93 and a 200-day moving average of $38.88. The company’s market capitalization is $5.18 billion. PTC Inc. has a 12 month low of $27.06 and a 12 month high of $46.91.
PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, July 20th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by $0.05. PTC had a negative net margin of 1.60% and a positive return on equity of 16.92%. The firm had revenue of $289.70 million for the quarter, compared to analyst estimates of $288.77 million. During the same period in the previous year, the company earned $0.53 EPS. PTC’s revenue was down 4.8% compared to the same quarter last year. Analysts predict that PTC Inc. will post $1.34 earnings per share for the current year.
A number of equities analysts have recently commented on PTC shares. Brean Capital started coverage on PTC in a report on Friday, October 7th. They issued a “buy” rating for the company. Zacks Investment Research upgraded PTC from a “sell” rating to a “hold” rating in a report on Wednesday, October 5th. Wedbush reiterated an “outperform” rating and issued a $52.00 target price (up previously from $46.00) on shares of PTC in a report on Wednesday. Evercore ISI started coverage on PTC in a report on Wednesday, September 14th. They issued a “buy” rating and a $50.00 target price for the company. Finally, Citigroup Inc. started coverage on PTC in a report on Monday, August 1st. They issued a “buy” rating and a $48.00 target price for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. PTC currently has a consensus rating of “Buy” and a consensus price target of $42.89.
In other news, Director Donald K. Grierson sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $39.41, for a total value of $197,050.00. Following the completion of the sale, the director now directly owns 74,829 shares in the company, valued at $2,949,010.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Schechter sold 1,136 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $45.02, for a total value of $51,142.72. Following the completion of the sale, the director now owns 60,035 shares of the company’s stock, valued at $2,702,775.70. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.
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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