PTC Inc. (PTC) Shares Bought by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans grew its holdings in shares of PTC Inc. (NASDAQ:PTC) by 7.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,300 shares of the technology company’s stock after buying an additional 1,580 shares during the quarter. Thrivent Financial For Lutherans’ holdings in PTC were worth $1,284,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in PTC. BlackRock Inc. boosted its stake in shares of PTC by 10,192.0% during the 1st quarter. BlackRock Inc. now owns 10,303,522 shares of the technology company’s stock valued at $541,450,000 after buying an additional 10,203,410 shares during the last quarter. FMR LLC boosted its stake in shares of PTC by 115.0% during the 1st quarter. FMR LLC now owns 5,150,179 shares of the technology company’s stock valued at $270,642,000 after buying an additional 2,755,079 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of PTC during the 1st quarter valued at approximately $130,787,000. Massachusetts Financial Services Co. MA purchased a new position in shares of PTC during the 1st quarter valued at approximately $53,169,000. Finally, Wellington Management Group LLP boosted its stake in shares of PTC by 213.5% during the 1st quarter. Wellington Management Group LLP now owns 1,472,849 shares of the technology company’s stock valued at $77,397,000 after buying an additional 1,003,004 shares during the last quarter. Institutional investors own 97.92% of the company’s stock.
In related news, EVP Anthony Dibona sold 2,205 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was 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 approximately $1,242,100.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Donald K. Grierson sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $53.77, for a total value 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. Insiders have sold a total of 65,329 shares of company stock worth $3,588,097 in the last three months. 1.11% of the stock is owned by insiders.
Several equities analysts have recently commented on the company. Barclays PLC reiterated an “overweight” rating and set a $65.00 target price (down from $67.00) on shares of PTC in a research note on Saturday, July 22nd. J P Morgan Chase & Co reissued an “overweight” rating and set a $68.00 price target on shares of PTC in a research report on Thursday, July 20th. BidaskClub raised PTC from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Robert W. Baird reissued a “buy” rating and set a $65.00 price target on shares of PTC in a research report on Thursday, August 31st. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on PTC in a research report on Monday, July 17th. They set a “neutral” rating and a $62.00 price target on the stock. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $63.31.
Shares of PTC Inc. (NASDAQ PTC) opened at 57.00 on Thursday. The firm’s market capitalization is $6.59 billion. PTC Inc. has a 12 month low of $43.01 and a 12 month high of $60.22. The firm has a 50-day moving average price of $55.45 and a 200 day moving average price of $55.12.
PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.28 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. The company had revenue of $291.92 million for the quarter, compared to analyst estimates of $290.55 million. During the same quarter last year, the firm earned $0.26 EPS. PTC’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts anticipate that PTC Inc. will post $1.20 EPS for the current fiscal year.
PTC declared that its board has approved a stock buyback program on Tuesday, September 19th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors 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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