Essex Investment Management Co. LLC raised its stake in PTC Inc. (NASDAQ:PTC) by 7.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 95,237 shares of the technology company’s stock after buying an additional 6,686 shares during the period. PTC comprises approximately 0.8% of Essex Investment Management Co. LLC’s portfolio, making the stock its 28th largest position. Essex Investment Management Co. LLC owned 0.08% of PTC worth $5,249,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PTC. Toronto Dominion Bank boosted its position in PTC by 10.0% in the first quarter. Toronto Dominion Bank now owns 2,475 shares of the technology company’s stock valued at $130,000 after buying an additional 225 shares in the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of PTC during the first quarter worth approximately $132,000. US Bancorp DE boosted its position in shares of PTC by 56.2% in the second quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock worth $144,000 after buying an additional 937 shares in the last quarter. First Mercantile Trust Co. purchased a new position in shares of PTC during the first quarter worth approximately $177,000. Finally, Flinton Capital Management LLC boosted its position in shares of PTC by 9.1% in the first quarter. Flinton Capital Management LLC now owns 3,456 shares of the technology company’s stock worth $182,000 after buying an additional 288 shares in the last quarter. 96.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of PTC Inc. (NASDAQ:PTC) traded up 0.47% during trading on Wednesday, hitting $53.93. The stock had a trading volume of 567,386 shares. PTC Inc. has a 12 month low of $40.71 and a 12 month high of $60.22. The company’s market cap is $6.24 billion. The stock has a 50 day moving average of $56.36 and a 200 day moving average of $54.70.
PTC (NASDAQ:PTC) last released its earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share for the quarter, hitting the Zacks’ 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 last year, the company posted $0.26 EPS. The business’s revenue was up .8% on a year-over-year basis. Equities analysts forecast that PTC Inc. will post $1.20 EPS for the current fiscal year.
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PTC has been the topic of a number of recent research reports. Benchmark Co. initiated coverage on PTC in a research report on Thursday, May 18th. They set a “buy” rating and a $65.00 price target on the stock. Griffin Securities upped their price target on PTC from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, April 20th. Evercore ISI reaffirmed a “buy” rating and set a $65.00 price target on shares of PTC in a research report on Thursday, April 20th. Goldman Sachs Group, Inc. (The) started 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. Finally, Guggenheim reissued a “neutral” rating and set a $50.00 price objective on shares of PTC in a report on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $62.25.
In other PTC news, VP Staats Aaron C. Von sold 5,750 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.26, for a total value of $317,745.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 directly 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 three months. Corporate insiders own 1.02% of the company’s stock.
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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