PTC Inc. (PTC) Short Interest Up 47.2% in July
PTC Inc. (NASDAQ:PTC) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totalling 5,181,578 shares, a growth of 47.2% from the July 14th total of 3,520,291 shares. Based on an average daily trading volume, of 2,246,659 shares, the days-to-cover ratio is presently 2.3 days. Approximately 4.5% of the shares of the stock are sold short.
Shares of PTC (NASDAQ:PTC) opened at 52.54 on Friday. PTC has a one year low of $41.14 and a one year high of $60.22. The firm has a 50-day moving average price of $55.95 and a 200 day moving average price of $54.84. The stock’s market capitalization is $6.07 billion.
PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. The company had revenue of $291.92 million during the quarter, compared to the consensus estimate of $290.55 million. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. PTC’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share. On average, equities analysts expect that PTC will post $1.20 EPS for the current fiscal year.
In related news, Director Donald K. Grierson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $53.77, for a total transaction of $268,850.00. Following the completion of the sale, the director now directly owns 62,300 shares in the company, valued at $3,349,871. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry F. Cohen sold 27,374 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $54.67, for a total value of $1,496,536.58. Following the sale, the executive vice president now owns 79,729 shares of the company’s stock, valued at $4,358,784.43. 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 90 days. Company insiders own 1.11% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in PTC. Guggenheim Capital LLC increased its position in PTC by 122.3% in the fourth quarter. Guggenheim Capital LLC now owns 26,804 shares of the technology company’s stock valued at $1,241,000 after buying an additional 14,745 shares during the last quarter. AQR Capital Management LLC increased its position in PTC by 115.2% in the fourth quarter. AQR Capital Management LLC now owns 16,700 shares of the technology company’s stock valued at $773,000 after buying an additional 8,941 shares during the last quarter. Quadrature Capital Ltd bought a new position in PTC during the fourth quarter valued at $362,000. Teachers Advisors LLC increased its position in PTC by 235.8% in the fourth quarter. Teachers Advisors LLC now owns 369,978 shares of the technology company’s stock valued at $17,119,000 after buying an additional 259,801 shares during the last quarter. Finally, Highbridge Capital Management LLC increased its position in PTC by 272.0% in the fourth quarter. Highbridge Capital Management LLC now owns 9,805 shares of the technology company’s stock valued at $454,000 after buying an additional 15,505 shares during the last quarter. 96.40% of the stock is owned by institutional investors.
Several brokerages recently commented on PTC. BidaskClub cut PTC from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Barclays PLC reiterated an “overweight” rating and set a $65.00 price target (down from $67.00) on shares of PTC in a research report on Saturday, July 22nd. J P Morgan Chase & Co reiterated an “overweight” rating and set a $68.00 price target on shares of PTC in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) began coverage on PTC in a research report on Monday, July 17th. They set a “neutral” rating and a $62.00 price target for the company. Finally, Pacific Crest boosted their price target on PTC from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. PTC currently has an average rating of “Buy” and a consensus target price of $62.25.
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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