Cramer Rosenthal Mcglynn LLC trimmed its holdings in PTC Inc. (NASDAQ:PTC) by 9.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,727,459 shares of the technology company’s stock after selling 182,451 shares during the quarter. PTC accounts for 1.5% of Cramer Rosenthal Mcglynn LLC’s portfolio, making the stock its 9th largest holding. Cramer Rosenthal Mcglynn LLC owned approximately 1.49% of PTC worth $95,218,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PTC. Stephens Inc. AR acquired a new position in PTC during the 2nd quarter valued at $126,000. US Bancorp DE boosted its holdings in PTC by 56.2% in the 2nd 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 during the period. Advisor Group Inc. boosted its holdings in PTC by 7.4% in the 2nd 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 during the period. PNC Financial Services Group Inc. boosted its holdings in PTC by 85.5% in the 2nd 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 during the period. Finally, Asset Management One Co. Ltd. bought a new stake in PTC in the 1st quarter valued at $189,000. 97.92% of the stock is owned by institutional investors.

PTC Inc. (NASDAQ PTC) traded up 0.28% during mid-day trading on Tuesday, hitting $56.44. 101,325 shares of the stock traded hands. PTC Inc. has a 52 week low of $43.01 and a 52 week high of $60.22. The firm’s 50-day moving average price is $55.26 and its 200-day moving average price is $55.10. The firm’s market cap is $6.52 billion.

PTC (NASDAQ:PTC) last issued its quarterly earnings results 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 company had revenue of $291.92 million during the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $0.26 EPS. On average, equities analysts forecast that PTC Inc. will post $1.20 earnings per share for the current fiscal year.

PTC declared that its Board of Directors has initiated a stock repurchase program on Tuesday, September 19th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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In related news, Director Donald K. Grierson sold 5,000 shares of PTC stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $53.77, for a total transaction of $268,850.00. Following the sale, the director now directly owns 62,300 shares of the company’s stock, valued at approximately $3,349,871. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Barry F. Cohen sold 27,374 shares of PTC 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 $4,358,784.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,329 shares of company stock valued at $3,588,097. Company insiders own 1.02% of the company’s stock.

Several research firms have recently issued reports on PTC. Evercore ISI set a $65.00 price objective on shares of PTC and gave the stock a “buy” rating in a report on Monday, August 28th. Royal Bank Of Canada restated a “buy” rating and set a $65.00 price target on shares of PTC in a research note on Monday, September 4th. Berenberg Bank assumed coverage on PTC in a report on Wednesday, August 23rd. They issued a “buy” rating and a $66.00 price target for the company. Goldman Sachs Group, Inc. (The) initiated coverage on PTC in a research report on Monday, July 17th. They issued a “neutral” rating and a $62.00 price objective for the company. Finally, BidaskClub lowered PTC from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $62.65.

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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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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