Aureus Asset Management LLC Has $264,000 Stake in PTC Inc. (PTC)
Aureus Asset Management LLC continued to hold its stake in shares of PTC Inc. (NASDAQ:PTC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,781 shares of the technology company’s stock at the close of the second quarter. Aureus Asset Management LLC’s holdings in PTC were worth $264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PTC by 3.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,845 shares of the technology company’s stock valued at $202,000 after purchasing an additional 144 shares in the last quarter. World Asset Management Inc raised its stake in shares of PTC by 8.6% during the first quarter. World Asset Management Inc now owns 7,602 shares of the technology company’s stock valued at $399,000 after purchasing an additional 604 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of PTC by 23.6% during the first quarter. UBS Asset Management Americas Inc. now owns 1,801,606 shares of the technology company’s stock valued at $94,674,000 after purchasing an additional 344,239 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of PTC during the first quarter valued at about $1,129,000. Finally, M&T Bank Corp raised its stake in shares of PTC by 24.3% during the first quarter. M&T Bank Corp now owns 8,474 shares of the technology company’s stock valued at $445,000 after purchasing an additional 1,654 shares in the last quarter. 97.92% of the stock is owned by institutional investors.
A number of brokerages recently weighed in on PTC. J P Morgan Chase & Co restated an “overweight” rating and set a $68.00 price objective on shares of PTC in a research note on Thursday, July 20th. Pacific Crest lifted their price objective on shares of PTC from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) began coverage on shares of PTC in a research note on Monday, July 17th. They set a “neutral” rating and a $62.00 price objective on the stock. BidaskClub upgraded shares of PTC from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Robert W. Baird restated a “buy” rating and set a $65.00 price objective on shares of PTC in a research note on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $62.65.
Shares of PTC Inc. (PTC) traded down 0.16% during midday trading on Thursday, reaching $55.93. 77,959 shares of the company’s stock traded hands. The firm’s market capitalization is $6.47 billion. The stock’s 50 day moving average price is $54.68 and its 200 day moving average price is $55.05. PTC Inc. has a 52-week low of $43.01 and a 52-week high of $60.22.
PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. The business had revenue of $291.92 million for the quarter, compared to analyst estimates of $290.55 million. During the same quarter in the prior year, the firm posted $0.26 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that PTC Inc. will post $1.20 EPS for the current fiscal year.
PTC declared that its board has authorized a stock repurchase plan on Tuesday, September 19th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In other PTC news, EVP Barry F. Cohen sold 27,374 shares of the stock in a transaction dated 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 owns 79,729 shares of the company’s stock, valued at $4,358,784.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Anthony Dibona sold 2,205 shares of the stock in a transaction dated 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 approximately $1,242,100.64. The disclosure for this sale can be found here. Insiders have sold 65,329 shares of company stock worth $3,588,097 in the last ninety days. 1.11% of the stock is currently owned by insiders.
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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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