Prudential Financial Inc. trimmed its position in PTC Inc (NASDAQ:PTC) by 39.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,271 shares of the technology company’s stock after selling 42,994 shares during the period. Prudential Financial Inc.’s holdings in PTC were worth $5,859,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of PTC. Qube Research & Technologies Ltd acquired a new position in PTC in the second quarter valued at approximately $328,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in PTC in the first quarter valued at approximately $5,897,000. State of New Jersey Common Pension Fund D boosted its stake in PTC by 4.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 430,000 shares of the technology company’s stock valued at $38,597,000 after acquiring an additional 20,000 shares during the period. Cleararc Capital Inc. acquired a new position in PTC in the first quarter valued at approximately $252,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in PTC by 44.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 7,307 shares of the technology company’s stock valued at $656,000 after acquiring an additional 2,261 shares during the period. Institutional investors and hedge funds own 91.75% of the company’s stock.
In related news, EVP Staats Aaron C. Von sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $73.33, for a total transaction of $219,990.00. Following the sale, the executive vice president now owns 14,154 shares of the company’s stock, valued at $1,037,912.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Matthew Lessner Cohen sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the sale, the executive vice president now directly owns 25,672 shares in the company, valued at approximately $2,310,480. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,793 shares of company stock worth $1,586,532. Corporate insiders own 9.91% of the company’s stock.
A number of brokerages have commented on PTC. Stifel Nicolaus downgraded PTC from a “buy” rating to a “hold” rating and decreased their target price for the company from $105.00 to $84.00 in a research note on Thursday, July 25th. Royal Bank of Canada downgraded PTC from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $110.00 to $85.00 in a research note on Thursday, July 25th. Wedbush decreased their target price on PTC from $90.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Zacks Investment Research downgraded PTC from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, Mizuho decreased their target price on PTC from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $92.13.
Shares of PTC traded up $0.42 during mid-day trading on Thursday, reaching $67.16. 47,349 shares of the company’s stock traded hands, compared to its average volume of 1,205,936. The business’s 50-day moving average price is $67.20 and its 200-day moving average price is $84.59. The stock has a market capitalization of $7.85 billion, a P/E ratio of 74.65, a price-to-earnings-growth ratio of 2.03 and a beta of 1.14. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.25 and a current ratio of 1.25. PTC Inc has a 12 month low of $62.05 and a 12 month high of $107.44.
PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.18. The company had revenue of $322.40 million for the quarter, compared to analysts’ expectations of $322.42 million. PTC had a return on equity of 10.44% and a net margin of 2.63%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. Equities research analysts anticipate that PTC Inc will post 1.09 EPS for the current year.
PTC Company Profile
PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
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