Contravisory Investment Management Inc. Has $4.34 Million Position in PTC Inc (PTC)

Contravisory Investment Management Inc. decreased its stake in shares of PTC Inc (NASDAQ:PTC) by 10.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 71,410 shares of the technology company’s stock after selling 7,925 shares during the period. Contravisory Investment Management Inc.’s holdings in PTC were worth $4,340,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Tributary Capital Management LLC purchased a new position in shares of PTC during the third quarter valued at approximately $109,000. Boston Financial Mangement LLC boosted its position in PTC by 7.6% in the third quarter. Boston Financial Mangement LLC now owns 102,462 shares of the technology company’s stock worth $5,767,000 after purchasing an additional 7,217 shares during the last quarter. Rational Advisors LLC purchased a new position in PTC in the third quarter worth $1,888,000. Voya Investment Management LLC boosted its position in PTC by 11.9% in the second quarter. Voya Investment Management LLC now owns 44,712 shares of the technology company’s stock worth $2,465,000 after purchasing an additional 4,765 shares during the last quarter. Finally, Lagoda Investment Management L.P. boosted its position in PTC by 6.7% in the third quarter. Lagoda Investment Management L.P. now owns 135,038 shares of the technology company’s stock worth $7,600,000 after purchasing an additional 8,510 shares during the last quarter.

Shares of PTC Inc (PTC) traded up $3.25 during midday trading on Thursday, hitting $69.95. The stock had a trading volume of 3,930,047 shares, compared to its average volume of 1,144,550. PTC Inc has a 1 year low of $49.12 and a 1 year high of $74.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $8,120.00, a PE ratio of 291.46 and a beta of 1.34.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, January 17th. The technology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. PTC had a return on equity of 8.08% and a net margin of 0.54%. The firm had revenue of $306.44 million for the quarter, compared to analysts’ expectations of $300.17 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. research analysts forecast that PTC Inc will post 0.81 earnings per share for the current fiscal year.

In related news, Director Paul A. Lacy sold 4,000 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $65.81, for a total transaction of $263,240.00. Following the sale, the director now directly owns 61,486 shares in the company, valued at approximately $4,046,393.66. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Anthony Dibona sold 10,929 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $65.25, for a total value of $713,117.25. The disclosure for this sale can be found here. Insiders have sold a total of 55,924 shares of company stock worth $3,627,304 in the last ninety days. Insiders own 1.11% of the company’s stock.

Several research analysts have weighed in on PTC shares. Evercore ISI set a $75.00 price objective on PTC and gave the stock a “buy” rating in a research report on Thursday, October 26th. Robert W. Baird set a $65.00 price objective on PTC and gave the stock a “buy” rating in a research report on Friday, October 6th. Wedbush reissued an “outperform” rating and issued a $57.00 price objective on shares of PTC in a research report on Thursday, October 5th. Barclays boosted their price objective on PTC from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Finally, BidaskClub cut PTC from a “hold” rating to a “sell” rating in a research report on Thursday, December 21st. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $69.94.

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PTC 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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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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