State of Wisconsin Investment Board Boosts Stake in PTC Inc. (PTC)
State of Wisconsin Investment Board raised its stake in PTC Inc. (NASDAQ:PTC) by 8.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 206,328 shares of the technology company’s stock after buying an additional 15,533 shares during the period. State of Wisconsin Investment Board owned approximately 0.18% of PTC worth $11,373,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Canada Pension Plan Investment Board boosted its stake in shares of PTC by 22.7% in the first quarter. Canada Pension Plan Investment Board now owns 37,800 shares of the technology company’s stock valued at $1,986,000 after buying an additional 7,000 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of PTC by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 40,529 shares of the technology company’s stock valued at $2,130,000 after buying an additional 600 shares during the last quarter. Emerald Advisers Inc. PA acquired a new stake in shares of PTC during the first quarter valued at $917,000. Essex Investment Management Co. LLC boosted its stake in shares of PTC by 14.0% in the first quarter. Essex Investment Management Co. LLC now owns 88,551 shares of the technology company’s stock valued at $4,653,000 after buying an additional 10,854 shares during the last quarter. Finally, Welch & Forbes LLC boosted its stake in shares of PTC by 1.2% in the first quarter. Welch & Forbes LLC now owns 5,060 shares of the technology company’s stock valued at $266,000 after buying an additional 60 shares during the last quarter. 98.40% of the stock is owned by hedge funds and other institutional investors.
Shares of PTC Inc. (PTC) opened at 54.26 on Thursday. The firm’s market capitalization is $6.27 billion. PTC Inc. has a 12 month low of $41.40 and a 12 month high of $60.22. The firm’s 50 day moving average is $55.23 and its 200-day moving average is $54.94.
PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. The business had revenue of $291.92 million during the quarter, compared to analyst estimates of $290.55 million. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. On average, analysts expect that PTC Inc. will post $1.20 EPS for the current fiscal year.
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A number of equities research analysts recently commented on PTC shares. J P Morgan Chase & Co reissued an “overweight” rating and set a $68.00 target price on shares of PTC in a research report on Thursday, July 20th. Pacific Crest increased their target price on shares of PTC from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) started coverage on shares of PTC in a research report on Monday, July 17th. They set a “neutral” rating and a $62.00 target price for the company. Barclays PLC reissued an “overweight” rating and set a $65.00 target price (down previously from $67.00) on shares of PTC in a research report on Saturday, July 22nd. Finally, BidaskClub cut shares of PTC from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $62.47.
In related news, EVP Barry F. Cohen sold 27,374 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $54.67, for a total value of $1,496,536.58. Following the transaction, the executive vice president now directly owns 79,729 shares of the company’s stock, valued at approximately $4,358,784.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anthony Dibona sold 2,205 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $55.88, for a total value of $123,215.40. Following the completion of the transaction, the executive vice president now directly owns 22,228 shares in the company, valued at $1,242,100.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,329 shares of company stock valued at $3,588,097. 1.02% of the stock is owned by corporate insiders.
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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