PTC Inc. (NASDAQ:PTC) Short Interest Up 47.2% in July

PTC Inc. (NASDAQ:PTC) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 5,181,578 shares, an increase of 47.2% from the July 14th total of 3,520,291 shares. Approximately 4.5% of the company’s shares are sold short. Based on an average daily volume of 2,246,659 shares, the short-interest ratio is currently 2.3 days.

PTC has been the subject of a number of recent analyst reports. Guggenheim reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of PTC in a research report on Tuesday, April 18th. Evercore ISI reaffirmed a “buy” rating and issued a $65.00 price objective on shares of PTC in a research report on Thursday, April 20th. Wedbush lifted their price objective on PTC from $59.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, April 20th. Griffin Securities lifted their price objective on PTC from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, April 20th. Finally, Barclays PLC lifted their price objective on PTC from $60.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, April 20th. Two 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’s stock. PTC presently has a consensus rating of “Buy” and an average target price of $62.25.

Shares of PTC (NASDAQ:PTC) opened at 52.54 on Friday. The firm’s 50-day moving average price is $55.95 and its 200-day moving average price is $54.84. PTC has a 52-week low of $41.14 and a 52-week high of $60.22. The stock’s market cap is $6.07 billion.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.28. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The business had revenue of $291.92 million for the quarter, compared to the consensus estimate of $290.55 million. During the same period in the prior year, the business posted $0.26 earnings per share. PTC’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts forecast that PTC will post $1.20 earnings per share for the current fiscal year.

In other news, 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 completion of the sale, the executive vice president now owns 22,228 shares of the company’s stock, valued at $1,242,100.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Donald K. Grierson sold 5,000 shares of PTC stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $53.77, for a total value of $268,850.00. Following the completion of the sale, the director now directly owns 62,300 shares of the company’s stock, valued at approximately $3,349,871. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,329 shares of company stock valued at $3,588,097. Company insiders own 1.11% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Stephens Inc. AR bought a new position in PTC during the second quarter worth $126,000. Toronto Dominion Bank increased its position in 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 bought a new position in PTC during the first quarter worth $132,000. US Bancorp DE increased its position in 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. Finally, First Mercantile Trust Co. bought a new position in PTC during the first quarter worth $177,000. 96.40% of the stock is currently owned by institutional investors and hedge funds.

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About PTC

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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