Russell Investments Group Ltd. increased its holdings in PTC Inc (NASDAQ:PTC) by 12.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 109,784 shares of the technology company’s stock after purchasing an additional 11,904 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of PTC worth $10,297,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PTC. Cerebellum GP LLC acquired a new position in PTC in the 2nd quarter worth about $163,000. Gilder Gagnon Howe & Co. LLC acquired a new position in PTC in the 2nd quarter worth about $186,000. Parametrica Management Ltd acquired a new position in PTC in the 1st quarter worth about $213,000. Gideon Capital Advisors Inc. acquired a new position in PTC in the 2nd quarter worth about $222,000. Finally, IFP Advisors Inc raised its holdings in PTC by 49.4% in the 1st quarter. IFP Advisors Inc now owns 2,861 shares of the technology company’s stock worth $223,000 after purchasing an additional 946 shares during the period. 94.24% of the stock is owned by institutional investors.
Shares of PTC stock opened at $96.77 on Thursday. PTC Inc has a 12 month low of $54.37 and a 12 month high of $101.12. The company has a market cap of $11.78 billion, a price-to-earnings ratio of 113.57, a PEG ratio of 3.12 and a beta of 1.27. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.83.
PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, July 18th. The technology company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. PTC had a return on equity of 11.62% and a net margin of 4.55%. The business had revenue of $314.78 million during the quarter, compared to analysts’ expectations of $312.95 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. equities research analysts anticipate that PTC Inc will post 0.88 EPS for the current fiscal year.
A number of equities analysts recently weighed in on PTC shares. Wedbush upped their price target on PTC from $102.00 to $112.00 and gave the stock an “outperform” rating in a report on Tuesday, June 19th. Barclays upped their price target on PTC from $88.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, June 13th. Zacks Investment Research cut PTC from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. Bank of America upped their price target on PTC from $86.00 to $102.00 and gave the stock a “neutral” rating in a report on Tuesday, June 19th. Finally, Robert W. Baird upped their price target on PTC from $103.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, June 19th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $99.44.
In other news, Director Corinna Lathan sold 1,405 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $92.58, for a total value of $130,074.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew Miller sold 34,453 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $92.16, for a total value of $3,175,188.48. The disclosure for this sale can be found here. Insiders have sold 101,733 shares of company stock valued at $9,521,376 in the last three months. Insiders own 1.19% of the company’s stock.
PTC Company Profile
PTC Inc develops and delivers software products and solutions worldwide. It operates through three segments: IoT Group, Solutions Group, and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things (IoT) applications and augmented reality (AR) experiences; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
Further Reading: Fundamental Analysis
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