PTC Inc. (PTC) Shares Sold by Emerald Advisers Inc. PA
Emerald Advisers Inc. PA cut its holdings in PTC Inc. (NASDAQ:PTC) by 10.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,897 shares of the technology company’s stock after selling 3,044 shares during the period. Emerald Advisers Inc. PA’s holdings in PTC were worth $1,514,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of the company. Artisan Partners Limited Partnership bought a new stake in PTC in the 2nd quarter valued at about $104,303,000. FMR LLC increased its position in PTC by 31.1% in the 2nd quarter. FMR LLC now owns 6,753,178 shares of the technology company’s stock valued at $372,235,000 after buying an additional 1,602,999 shares in the last quarter. Newbrook Capital Advisors LP bought a new stake in PTC in the 2nd quarter valued at about $88,346,000. Sumitomo Mitsui Asset Management Company LTD increased its position in PTC by 3,925.9% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 726,385 shares of the technology company’s stock valued at $40,038,000 after buying an additional 708,342 shares in the last quarter. Finally, Pictet Asset Management Ltd. bought a new stake in PTC in the 2nd quarter valued at about $31,092,000. 97.60% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently commented on the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $74.00 target price on shares of PTC in a research report on Friday, October 27th. Barclays PLC boosted their target price on PTC from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. KeyCorp reaffirmed a “buy” rating and issued a $74.00 target price (up from $64.00) on shares of PTC in a research report on Thursday, October 26th. Evercore ISI set a $75.00 target price on PTC and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, BidaskClub raised PTC from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 25th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. PTC has an average rating of “Buy” and a consensus price target of $65.94.
Shares of PTC Inc. (NASDAQ:PTC) opened at $66.25 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $7,659.03, a P/E ratio of 112.29 and a beta of 1.37.
PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, October 25th. The technology company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). PTC had a return on equity of 8.08% and a net margin of 0.54%. The business had revenue of $306.38 million during the quarter, compared to analysts’ expectations of $306.59 million. During the same quarter in the previous year, the firm earned $0.20 EPS. PTC’s quarterly revenue was up 6.3% on a year-over-year basis. equities analysts anticipate that PTC Inc. will post 0.81 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 repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
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In other news, Director Robert Schechter sold 1,128 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $66.88, for a total value of $75,440.64. Following the transaction, the director now owns 64,826 shares in the company, valued at approximately $4,335,562.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul A. Lacy sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $65.81, for a total value of $263,240.00. Following the completion of the transaction, the director now owns 61,486 shares in the company, valued at approximately $4,046,393.66. The disclosure for this sale can be found here. 1.11% of the stock is owned by insiders.
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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