Sterling Capital Management LLC cut its holdings in shares of PTC Inc. (NASDAQ:PTC) by 3.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 493,500 shares of the technology company’s stock after selling 17,650 shares during the quarter. Sterling Capital Management LLC owned approximately 0.43% of PTC worth $27,202,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Stephens Inc. AR purchased a new position in shares of PTC during the second quarter valued at about $126,000. US Bancorp DE grew its position in shares of PTC by 56.2% during the second quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock valued at $144,000 after purchasing an additional 937 shares in the last quarter. Advisor Group Inc. grew its position in shares of PTC by 7.4% during the second quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock valued at $150,000 after purchasing an additional 186 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of PTC by 85.5% during the second quarter. PNC Financial Services Group Inc. now owns 3,013 shares of the technology company’s stock valued at $165,000 after purchasing an additional 1,389 shares in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in shares of PTC during the first quarter valued at about $189,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.
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A number of research analysts have recently weighed in on PTC shares. Evercore ISI set a $65.00 price objective on PTC and gave the company a “buy” rating in a research report on Monday, August 28th. Royal Bank Of Canada restated a “buy” rating and set a $65.00 price objective on shares of PTC in a research report on Monday, September 4th. Berenberg Bank started coverage on PTC in a research report on Wednesday, August 23rd. They set a “buy” rating and a $66.00 price objective for the company. Robert W. Baird set a $65.00 price objective on PTC and gave the company a “buy” rating in a research report on Friday, October 6th. Finally, Goldman Sachs Group, Inc. (The) began coverage on PTC in a research report on Monday, July 17th. They issued a “neutral” rating and a $62.00 price target for the company. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $63.31.
In other PTC news, EVP Barry F. Cohen sold 27,374 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 79,729 shares in the company, valued at approximately $4,358,784.43. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Staats Aaron C. Von sold 5,750 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $55.26, for a total transaction of $317,745.00. 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 corporate insiders.
Shares of PTC Inc. (NASDAQ:PTC) traded up 0.39% during mid-day trading on Friday, reaching $59.81. 177,960 shares of the company’s stock traded hands. The company’s 50-day moving average price is $56.30 and its 200-day moving average price is $55.33. PTC Inc. has a 12-month low of $43.10 and a 12-month high of $60.22. The stock’s market capitalization is $6.91 billion.
PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.28 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.28. The firm had revenue of $291.92 million during the quarter, compared to analysts’ expectations of $290.55 million. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company posted $0.26 EPS. Analysts anticipate that PTC Inc. will post $1.20 earnings per share for the current year.
PTC announced that its board has initiated a share buyback program on Tuesday, September 19th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
PTC Company Profile
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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