PTC Inc. (PTC) Stake Raised by TD Asset Management Inc.
TD Asset Management Inc. raised its stake in shares of PTC Inc. (NASDAQ:PTC) by 4,735.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 648,922 shares of the company’s stock after buying an additional 635,501 shares during the period. TD Asset Management Inc.’s holdings in PTC were worth $28,754,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Lockheed Martin Investment Management Co. purchased a new stake in PTC during the third quarter valued at about $1,772,000. State Treasurer State of Michigan raised its stake in PTC by 0.4% in the third quarter. State Treasurer State of Michigan now owns 46,239 shares of the company’s stock valued at $2,049,000 after buying an additional 200 shares in the last quarter. Tygh Capital Management Inc. purchased a new stake in PTC during the third quarter valued at about $4,166,000. Welch & Forbes LLC purchased a new stake in PTC during the third quarter valued at about $222,000. Finally, Aperio Group LLC raised its stake in PTC by 12.9% in the third quarter. Aperio Group LLC now owns 15,664 shares of the company’s stock valued at $694,000 after buying an additional 1,791 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.
PTC Inc. (NASDAQ:PTC) traded down 1.59% during midday trading on Wednesday, hitting $48.84. The company had a trading volume of 258,369 shares. PTC Inc. has a 12 month low of $27.06 and a 12 month high of $49.93. The firm has a 50-day moving average price of $46.53 and a 200-day moving average price of $41.75. The company’s market cap is $5.65 billion.
PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, October 26th. The company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.10. PTC had a negative net margin of 4.92% and a positive return on equity of 10.56%. The firm earned $288.20 million during the quarter, compared to analyst estimates of $297.91 million. During the same quarter in the previous year, the business posted $0.67 EPS. PTC’s revenue was down 7.8% compared to the same quarter last year. Equities analysts anticipate that PTC Inc. will post $1.33 EPS for the current year.
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Several equities research analysts recently issued reports on PTC shares. Evercore ISI started coverage on shares of PTC in a report on Wednesday, September 14th. They issued a “buy” rating and a $50.00 target price for the company. Zacks Investment Research raised shares of PTC from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. Brean Capital initiated coverage on shares of PTC in a report on Friday, October 7th. They issued a “buy” rating for the company. Wedbush reaffirmed an “outperform” rating and set a $52.00 price objective (up from $46.00) on shares of PTC in a report on Wednesday, October 12th. Finally, Goldman Sachs Group Inc. initiated coverage on shares of PTC in a report on Friday, November 4th. They set a “buy” rating and a $58.00 price objective for the company. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $49.93.
In other PTC news, VP Staats Aaron C. Von sold 13,588 shares of the business’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $47.46, for a total transaction of $644,886.48. Following the transaction, the vice president now owns 61,443 shares in the company, valued at $2,916,084.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert Schechter sold 1,136 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $45.02, for a total value of $51,142.72. Following the transaction, the director now owns 60,035 shares in the company, valued at approximately $2,702,775.70. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.
PTC Company Profile
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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