Credit Suisse AG Grows Position in PTC Inc (PTC)

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Credit Suisse AG lifted its position in shares of PTC Inc (NASDAQ:PTC) by 16.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 117,918 shares of the technology company’s stock after acquiring an additional 17,069 shares during the period. Credit Suisse AG’s holdings in PTC were worth $12,523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fort L.P. purchased a new position in PTC during the second quarter valued at $122,000. Qube Research & Technologies Ltd purchased a new position in PTC during the second quarter valued at $134,000. Almanack Investment Partners LLC. purchased a new position in PTC during the second quarter valued at $150,000. Private Advisor Group LLC purchased a new position in PTC during the third quarter valued at $202,000. Finally, Checchi Capital Advisers LLC purchased a new position in PTC during the third quarter valued at $221,000. Institutional investors own 91.62% of the company’s stock.

PTC has been the subject of a number of recent research reports. BidaskClub upgraded PTC from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. JPMorgan Chase & Co. lowered their price objective on PTC to $96.00 in a research note on Friday, October 26th. Finally, Cowen set a $105.00 price target on PTC and gave the stock a “buy” rating in a research note on Sunday, October 28th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $98.63.

PTC stock opened at $87.52 on Friday. PTC Inc has a 1-year low of $59.40 and a 1-year high of $107.44. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $10.37 billion, a PE ratio of 97.24, a price-to-earnings-growth ratio of 2.42 and a beta of 1.50.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. PTC had a return on equity of 11.97% and a net margin of 4.19%. The firm had revenue of $312.52 million during the quarter, compared to analysts’ expectations of $322.00 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. As a group, research analysts anticipate that PTC Inc will post 1.11 EPS for the current fiscal year.

In related news, Director Robert Schechter sold 5,000 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $88.14, for a total transaction of $440,700.00. Following the completion of the sale, the director now owns 66,007 shares in the company, valued at $5,817,856.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Phillip M. Fernandez sold 250 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $102.46, for a total value of $25,615.00. Following the sale, the director now owns 20,912 shares of the company’s stock, valued at approximately $2,142,643.52. The disclosure for this sale can be found here. Insiders sold 148,231 shares of company stock valued at $12,779,065 in the last 90 days. Company insiders own 1.19% of the company’s stock.

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About PTC

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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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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