Nissay Asset Management Corp Japan ADV lifted its position in shares of PTC Inc (NASDAQ:PTC) by 9.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 11,074 shares of the technology company’s stock after purchasing an additional 984 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in PTC were worth $861,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of PTC. Pictet Asset Management Ltd. boosted its position in PTC by 23.3% during the first quarter. Pictet Asset Management Ltd. now owns 3,277,124 shares of the technology company’s stock valued at $200,593,000 after purchasing an additional 618,269 shares during the last quarter. AQR Capital Management LLC boosted its position in PTC by 67.6% during the first quarter. AQR Capital Management LLC now owns 20,224 shares of the technology company’s stock valued at $1,238,000 after purchasing an additional 8,154 shares during the last quarter. Capital Investment Services of America Inc. boosted its position in PTC by 1.8% during the second quarter. Capital Investment Services of America Inc. now owns 225,755 shares of the technology company’s stock valued at $17,561,000 after purchasing an additional 3,932 shares during the last quarter. Norges Bank acquired a new position in PTC during the fourth quarter valued at approximately $63,331,000. Finally, State Street Corp boosted its position in PTC by 3.0% during the first quarter. State Street Corp now owns 3,492,692 shares of the technology company’s stock valued at $213,788,000 after purchasing an additional 103,190 shares during the last quarter. 86.55% of the stock is owned by institutional investors.
Several research analysts recently commented on the company. Stifel Nicolaus raised PTC from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $100.00 in a research report on Thursday, July 16th. Rosenblatt Securities boosted their target price on PTC from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday. Wedbush raised their price target on PTC from $70.00 to $78.00 in a report on Thursday, June 11th. Bank of America initiated coverage on shares of PTC in a report on Wednesday, May 27th. They issued a “buy” rating on the stock. Finally, Griffin Securities upgraded shares of PTC from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Thursday. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. PTC currently has a consensus rating of “Buy” and an average price target of $99.18.
PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, July 29th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.18. The company had revenue of $352.00 million during the quarter, compared to analysts’ expectations of $333.22 million. PTC had a net margin of 6.21% and a return on equity of 16.99%. PTC’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 earnings per share. Equities research analysts predict that PTC Inc will post 1.59 earnings per share for the current fiscal year.
PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
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