Cigna Investments Inc. New decreased its stake in PTC Inc. (NASDAQ:PTC) by 6.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,363 shares of the technology company’s stock after selling 300 shares during the period. Cigna Investments Inc. New’s holdings in PTC were worth $240,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Toronto Dominion Bank boosted its stake in shares of 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 during the last quarter. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of PTC during the first quarter valued at $132,000. US Bancorp DE boosted its stake 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 valued at $144,000 after buying an additional 937 shares during the last quarter. First Mercantile Trust Co. bought a new stake in shares of PTC during the first quarter valued at $177,000. Finally, Flinton Capital Management LLC boosted its stake 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 valued at $182,000 after buying an additional 288 shares during the last quarter. 98.40% of the stock is currently owned by institutional investors.
Shares of PTC Inc. (PTC) opened at 54.57 on Wednesday. PTC Inc. has a one year low of $41.40 and a one year high of $60.22. The company has a 50 day moving average price of $55.23 and a 200-day moving average price of $54.94. The stock’s market cap is $6.31 billion.
PTC (NASDAQ:PTC) last released 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 negative net margin of 3.46% and a positive return on equity of 6.69%. The company had revenue of $291.92 million during the quarter, compared to analyst estimates of $290.55 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts predict that PTC Inc. will post $1.20 earnings per share for the current fiscal year.
Several brokerages have weighed in on PTC. Benchmark Co. began coverage on PTC in a research note on Thursday, May 18th. They set a “buy” rating and a $65.00 price objective on the stock. Robert W. Baird began coverage on PTC in a research note on Wednesday, May 10th. They set an “outperform” rating and a $65.00 price objective on the stock. BidaskClub cut PTC from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. 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, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $68.00 target price on shares of PTC in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $62.25.
In other news, EVP Anthony Dibona sold 2,205 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $55.88, for a total value of $123,215.40. Following the completion of the sale, the executive vice president now owns 22,228 shares of the company’s stock, valued at $1,242,100.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Barry F. Cohen sold 27,374 shares of the 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 completion of the sale, the executive vice president now directly owns 79,729 shares of the company’s stock, valued at approximately $4,358,784.43. The disclosure for this sale can be found here. Insiders sold 65,329 shares of company stock valued at $3,588,097 in the last three months. Company 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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