State of New Jersey Common Pension Fund D lowered its stake in shares of PTC Inc. (NASDAQ:PTC) by 9.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,518,800 shares of the technology company’s stock after selling 161,200 shares during the period. State of New Jersey Common Pension Fund D owned approximately 1.31% of PTC worth $83,716,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky increased its stake in shares of PTC by 28.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 307,549 shares of the technology company’s stock worth $16,162,000 after buying an additional 67,926 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of PTC during the first quarter worth about $2,899,000. Mason Street Advisors LLC increased its stake in shares of PTC by 1.3% in the first quarter. Mason Street Advisors LLC now owns 54,668 shares of the technology company’s stock worth $2,873,000 after buying an additional 713 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of PTC by 213.5% in the first quarter. Wellington Management Group LLP now owns 1,472,849 shares of the technology company’s stock worth $77,397,000 after buying an additional 1,003,004 shares during the last quarter. Finally, Karp Capital Management Corp bought a new stake in shares of PTC during the first quarter worth $1,129,000. Hedge funds and other institutional investors own 98.40% of the company’s stock.
Shares of PTC Inc. (NASDAQ:PTC) traded up 0.15% on Monday, hitting $53.42. The company had a trading volume of 780,484 shares. The company’s market capitalization is $6.18 billion. The stock’s 50-day moving average is $55.82 and its 200 day moving average is $54.87. PTC Inc. has a 52 week low of $41.14 and a 52 week high of $60.22.
PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.28. The business had revenue of $291.92 million for the quarter, compared to analyst estimates of $290.55 million. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. Equities analysts expect that PTC Inc. will post $1.20 EPS for the current year.
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A number of equities research analysts recently weighed in on the stock. Barclays PLC restated an “overweight” rating and issued a $65.00 target price (down previously from $67.00) on shares of PTC in a report on Saturday, July 22nd. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $68.00 price target on shares of PTC in a report on Thursday, July 20th. Pacific Crest lifted their price target on shares of PTC from $62.00 to $67.00 and gave the company an “overweight” rating in a report on Tuesday, June 6th. Griffin Securities lifted their price target on shares of PTC from $55.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, April 20th. Finally, BidaskClub cut shares of PTC from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $62.25.
In other PTC news, EVP Anthony Dibona sold 2,205 shares of PTC stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $55.88, for a total value of $123,215.40. Following the completion of the transaction, the executive vice president now directly owns 22,228 shares in the company, valued at $1,242,100.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Donald K. Grierson sold 5,000 shares of PTC stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $53.77, for a total value of $268,850.00. Following the completion of the transaction, the director now owns 62,300 shares of the company’s stock, valued at $3,349,871. The disclosure for this sale can be found here. Insiders sold 65,329 shares of company stock valued at $3,588,097 over the last quarter. Insiders own 1.02% of the company’s stock.
PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.
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