Comerica Bank lessened its stake in PTC Inc (NASDAQ:PTC) by 3.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,526 shares of the technology company’s stock after selling 1,996 shares during the quarter. Comerica Bank owned approximately 0.05% of PTC worth $4,164,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. HM Payson & Co. purchased a new stake in shares of PTC during the second quarter valued at approximately $45,000. Arlington Partners LLC purchased a new stake in shares of PTC during the second quarter valued at approximately $64,000. Machina Capital S.A.S. increased its position in shares of PTC by 17,775.0% during the second quarter. Machina Capital S.A.S. now owns 715 shares of the technology company’s stock valued at $64,000 after acquiring an additional 711 shares during the last quarter. CSat Investment Advisory L.P. purchased a new stake in shares of PTC during the second quarter valued at approximately $120,000. Finally, Cerebellum GP LLC purchased a new stake in shares of PTC during the third quarter valued at approximately $128,000. Institutional investors own 90.23% of the company’s stock.
In other PTC news, Director Corinna Lathan sold 843 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $64.48, for a total value of $54,356.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,693 shares of company stock valued at $113,084 over the last three months. Company insiders own 9.91% of the company’s stock.
NASDAQ:PTC opened at $73.23 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.76 and a quick ratio of 1.25. The business has a fifty day simple moving average of $66.84 and a two-hundred day simple moving average of $77.05. PTC Inc has a 1 year low of $62.05 and a 1 year high of $102.47. The company has a market capitalization of $8.43 billion, a P/E ratio of 80.47 and a beta of 1.13.
PTC (NASDAQ:PTC) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.18. PTC had a return on equity of 12.23% and a net margin of 2.33%. The business had revenue of $335.00 million during the quarter, compared to the consensus estimate of $333.86 million. During the same period last year, the business posted $0.45 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts anticipate that PTC Inc will post 1.5 earnings per share for the current year.
A number of analysts recently commented on PTC shares. Griffin Securities downgraded PTC from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Mizuho decreased their price target on PTC from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Royal Bank of Canada downgraded PTC from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $110.00 to $85.00 in a research report on Thursday, July 25th. Stifel Nicolaus downgraded PTC from a “buy” rating to a “hold” rating and decreased their price target for the company from $105.00 to $84.00 in a research report on Thursday, July 25th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $83.00 price target on shares of PTC in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $88.80.
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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