Diversified Trust Co increased its position in PTC Inc. (NASDAQ:PTC) by 1.8% during the second quarter, Holdings Channel reports. The fund owned 8,650 shares of the company’s stock after buying an additional 150 shares during the period. Diversified Trust Co’s holdings in PTC were worth $325,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in PTC. Royce & Associates LP increased its stake in PTC by 35.5% in the first quarter. Royce & Associates LP now owns 1,589,100 shares of the company’s stock worth $52,695,000 after buying an additional 416,000 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in PTC by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,360,836 shares of the company’s stock worth $78,286,000 after buying an additional 346,444 shares during the last quarter. AXA increased its stake in PTC by 82.9% in the first quarter. AXA now owns 650,645 shares of the company’s stock worth $21,575,000 after buying an additional 294,904 shares during the last quarter. Prudential Financial Inc. increased its stake in PTC by 337.0% in the first quarter. Prudential Financial Inc. now owns 369,923 shares of the company’s stock worth $12,266,000 after buying an additional 285,280 shares during the last quarter. Finally, Clovis Capital Management LP increased its stake in PTC by 49.0% in the first quarter. Clovis Capital Management LP now owns 425,636 shares of the company’s stock worth $14,114,000 after buying an additional 140,047 shares during the last quarter. 95.12% of the stock is owned by institutional investors and hedge funds.
PTC Inc. (NASDAQ:PTC) traded down 1.42% during midday trading on Thursday, reaching $43.88. The company’s stock had a trading volume of 633,576 shares. PTC Inc. has a 1-year low of $27.06 and a 1-year high of $44.75. The firm has a 50 day moving average price of $43.03 and a 200 day moving average price of $38.02. The firm’s market capitalization is $5.04 billion.
PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, July 20th. The company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.05. PTC had a positive return on equity of 16.92% and a negative net margin of 1.60%. The company earned $289.70 million during the quarter, compared to analyst estimates of $288.77 million. During the same quarter last year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, analysts predict that PTC Inc. will post $1.38 EPS for the current year.
A number of analysts have recently weighed in on PTC shares. Citigroup Inc. started coverage on shares of PTC in a research report on Monday, August 1st. They set a “buy” rating and a $48.00 price target for the company. Zacks Investment Research downgraded shares of PTC from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 22nd. Wedbush reissued an “outperform” rating and set a $43.00 price target on shares of PTC in a research report on Friday, July 15th. Finally, Evercore ISI started coverage on shares of PTC in a report on Wednesday, September 14th. They issued a “buy” rating and a $50.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. PTC has an average rating of “Buy” and a consensus target price of $41.70.
In other news, EVP Matthew Lessner Cohen sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $42.57, for a total transaction of $340,560.00. Following the completion of the transaction, the executive vice president now directly owns 14,607 shares in the company, valued at $621,819.99. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Schechter sold 1,248 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $39.98, for a total value of $49,895.04. Following the transaction, the director now owns 61,171 shares of the company’s stock, valued at $2,445,616.58. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.
PTC Inc develops and delivers technology solutions, which consists of software and services that transform the way the customers create, operate and service their products. The Company has two segments: Software Products and Services. Its Software Products segment includes license and related support revenue (including updates and technical support) for all of its products except training-related products.
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