Dynamic Technology Lab Private Ltd Invests $695,000 in PTC Inc. (PTC)
Dynamic Technology Lab Private Ltd acquired a new position in shares of PTC Inc. (NASDAQ:PTC) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,621 shares of the technology company’s stock, valued at approximately $695,000.
Several other large investors also recently modified their holdings of PTC. Artisan Partners Limited Partnership bought a new position in PTC in the second quarter valued at $104,303,000. FMR LLC grew its position in PTC by 31.1% in the second quarter. FMR LLC now owns 6,753,178 shares of the technology company’s stock valued at $372,235,000 after purchasing an additional 1,602,999 shares in the last quarter. Newbrook Capital Advisors LP bought a new position in PTC in the second quarter valued at $88,346,000. Sumitomo Mitsui Asset Management Company LTD grew its position in PTC by 3,925.9% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 726,385 shares of the technology company’s stock valued at $40,038,000 after purchasing an additional 708,342 shares in the last quarter. Finally, Pictet Asset Management Ltd. bought a new position in PTC in the second quarter valued at $31,092,000. Institutional investors and hedge funds own 97.59% of the company’s stock.
In other PTC news, 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald K. Grierson sold 5,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $53.77, for a total transaction of $268,850.00. Following the transaction, the director now owns 62,300 shares of the company’s stock, valued at approximately $3,349,871. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,329 shares of company stock valued at $3,588,097. 1.11% of the stock is owned by company insiders.
A number of research firms recently weighed in on PTC. Evercore ISI set a $65.00 target price on shares of PTC and gave the company a “buy” rating in a research report on Thursday. BidaskClub raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. Robert W. Baird set a $65.00 target price on shares of PTC and gave the company a “buy” rating in a research report on Friday, October 6th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $65.00 target price on shares of PTC in a research report on Monday, September 4th. Finally, Berenberg Bank began coverage on shares of PTC in a research report on Wednesday, August 23rd. They issued a “buy” rating and a $66.00 target price for the company. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. PTC has an average rating of “Buy” and an average price target of $63.31.
PTC Inc. (PTC) opened at 59.96 on Thursday. The stock has a 50 day moving average of $56.92 and a 200-day moving average of $55.57. The company’s market cap is $6.93 billion. PTC Inc. has a 12 month low of $43.10 and a 12 month high of $60.84.
PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. The company had revenue of $291.92 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. Equities research analysts expect that PTC Inc. will post $1.20 EPS for the current year.
PTC declared that its Board of Directors has authorized a share repurchase program on Tuesday, September 19th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
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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