PTC Inc. (PTC) Holdings Trimmed by Teachers Advisors LLC
Teachers Advisors LLC lowered its holdings in shares of PTC Inc. (NASDAQ:PTC) by 68.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,568 shares of the technology company’s stock after selling 256,588 shares during the period. Teachers Advisors LLC owned approximately 0.10% of PTC worth $6,646,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Stephens Investment Management Group LLC bought a new stake in PTC during the 2nd quarter valued at $13,651,000. Stephens Inc. AR bought a new stake in PTC during the 2nd quarter valued at $126,000. Symphony Asset Management LLC raised its stake in PTC by 10.5% during the 2nd quarter. Symphony Asset Management LLC now owns 27,629 shares of the technology company’s stock valued at $1,522,000 after acquiring an additional 2,636 shares in the last quarter. Riverhead Capital Management LLC raised its stake in PTC by 60.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,691 shares of the technology company’s stock valued at $479,000 after acquiring an additional 3,291 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in PTC by 4.5% during the 2nd quarter. Alliancebernstein L.P. now owns 69,322 shares of the technology company’s stock valued at $3,821,000 after acquiring an additional 2,970 shares in the last quarter. 97.92% of the stock is currently owned by hedge funds and other institutional investors.
PTC Inc. (PTC) opened at 58.32 on Friday. The stock’s 50 day moving average price is $55.71 and its 200 day moving average price is $55.15. The firm’s market capitalization is $6.74 billion. PTC Inc. has a 12 month low of $43.10 and a 12 month high of $60.22.
PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.28 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $291.92 million for the quarter, compared to the consensus estimate of $290.55 million. During the same quarter in the prior year, the business earned $0.26 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts expect that PTC Inc. will post $1.20 earnings per share for the current fiscal year.
PTC declared that its board has initiated a stock repurchase program on Tuesday, September 19th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 7.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
Several brokerages have weighed in on PTC. BidaskClub downgraded PTC from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $65.00 target price on shares of PTC in a research note on Monday, September 4th. Berenberg Bank began coverage on PTC in a research note on Wednesday, August 23rd. They set a “buy” rating and a $66.00 target price on the stock. Barclays PLC reaffirmed an “overweight” rating and set a $65.00 target price (down previously from $67.00) on shares of PTC in a research note on Saturday, July 22nd. Finally, Robert W. Baird set a $65.00 target price on PTC and gave the company a “buy” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $63.31.
In other PTC news, EVP Barry F. Cohen sold 27,374 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $54.67, for a total transaction of $1,496,536.58. Following the transaction, the executive vice president now owns 79,729 shares of the company’s stock, valued at approximately $4,358,784.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Staats Aaron C. Von sold 5,750 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $55.26, for a total value of $317,745.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,329 shares of company stock worth $3,588,097. Company insiders own 1.11% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “PTC Inc. (PTC) Holdings Trimmed by Teachers Advisors LLC” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another site, it was illegally copied and republished in violation of international copyright law. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/10/08/ptc-inc-ptc-holdings-trimmed-by-teachers-advisors-llc.html.
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.
Receive News & Stock Ratings for PTC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Inc. and related stocks with our FREE daily email newsletter.