Addison Capital Co raised its holdings in shares of PTC Inc (NASDAQ:PTC) by 29.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 4,430 shares of the technology company’s stock after acquiring an additional 1,013 shares during the quarter. Addison Capital Co’s holdings in PTC were worth $398,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Arlington Partners LLC acquired a new position in shares of PTC during the second quarter worth $64,000. First Manhattan Co. acquired a new position in shares of PTC during the first quarter worth $92,000. Manchester Capital Management LLC acquired a new position in shares of PTC during the first quarter worth $115,000. Pearl River Capital LLC lifted its position in shares of PTC by 201.7% during the first quarter. Pearl River Capital LLC now owns 2,112 shares of the technology company’s stock worth $194,000 after purchasing an additional 1,412 shares in the last quarter. Finally, Checchi Capital Advisers LLC acquired a new position in shares of PTC during the first quarter worth $225,000. 92.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:PTC traded up $0.89 during midday trading on Tuesday, reaching $90.60. The company had a trading volume of 762,800 shares, compared to its average volume of 1,103,052. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.32. The company’s fifty day simple moving average is $88.91. The stock has a market cap of $10.12 billion, a PE ratio of 100.67, a P/E/G ratio of 2.60 and a beta of 1.19. PTC Inc has a one year low of $76.67 and a one year high of $107.44.
PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The business had revenue of $315.50 million during the quarter, compared to analyst estimates of $312.29 million. PTC had a net margin of 3.06% and a return on equity of 11.68%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. As a group, equities analysts anticipate that PTC Inc will post 1.05 earnings per share for the current year.
In related news, insider James E. Heppelmann sold 15,000 shares of PTC stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $89.02, for a total value of $1,335,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 15,800 shares of company stock valued at $1,405,938. Insiders own 9.91% of the company’s stock.
PTC has been the topic of a number of recent research reports. Bank of America reissued an “underperform” rating and set a $86.00 target price on shares of PTC in a research report on Wednesday, June 12th. Citigroup cut shares of Intercontinental Exchange from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $92.00 to $99.00 in a research report on Monday. Evercore ISI reissued a “hold” rating and set a $70.00 target price on shares of Akamai Technologies in a research report on Thursday, June 13th. Zacks Investment Research raised shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday. Finally, TheStreet raised shares of Viacom from a “c+” rating to a “b-” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $101.00.
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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