Macquarie Group Ltd. Has $73.12 Million Position in PTC Inc. (PTC)
Macquarie Group Ltd. boosted its position in shares of PTC Inc. (NASDAQ:PTC) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,326,605 shares of the technology company’s stock after buying an additional 62,128 shares during the quarter. Macquarie Group Ltd. owned approximately 1.15% of PTC worth $73,122,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Stephens Inc. AR purchased a new position in PTC during the second quarter valued at $126,000. US Bancorp DE lifted its holdings in PTC by 56.2% during the second 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 in the last quarter. Advisor Group Inc. lifted its holdings in PTC by 7.4% during the second 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 in the last quarter. PNC Financial Services Group Inc. lifted its holdings in PTC by 85.5% during the second 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 in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in PTC during the first quarter valued at $189,000. Institutional investors own 97.92% of the company’s stock.
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In other PTC news, EVP Barry F. Cohen sold 27,374 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were 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 in the company, valued at approximately $4,358,784.43. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Anthony Dibona sold 2,205 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $55.88, for a total transaction of $123,215.40. Following the completion of the transaction, the executive vice president now owns 22,228 shares in the company, valued at $1,242,100.64. The disclosure for this sale can be found here. Insiders sold a total of 65,329 shares of company stock worth $3,588,097 over the last quarter. Insiders own 1.11% of the company’s stock.
PTC Inc. (NASDAQ:PTC) traded up 0.26% during trading on Friday, hitting $57.90. 40,015 shares of the stock traded hands. The stock’s market cap is $6.69 billion. PTC Inc. has a 52-week low of $43.01 and a 52-week high of $60.22. The company’s 50 day moving average price is $55.56 and its 200-day moving average price is $55.13.
PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The business had revenue of $291.92 million for the quarter, compared to analyst estimates of $290.55 million. During the same period in the previous year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts forecast that PTC Inc. will post $1.20 earnings per share for the current fiscal year.
PTC declared that its board has initiated a share buyback plan on Tuesday, September 19th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
Several equities analysts have issued reports on PTC shares. Goldman Sachs Group, Inc. (The) started coverage on shares of PTC in a report on Monday, July 17th. They set a “neutral” rating and a $62.00 price objective on the stock. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $68.00 price objective on shares of PTC in a report on Thursday, July 20th. Barclays PLC reaffirmed an “overweight” rating and set a $65.00 price objective (down from $67.00) on shares of PTC in a report on Saturday, July 22nd. BidaskClub downgraded shares of PTC from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Berenberg Bank started coverage on shares of PTC in a report on Wednesday, August 23rd. They set a “buy” rating and a $66.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. PTC currently has an average rating of “Buy” and an average target price of $63.31.
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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