Mirae Asset Global Investments Co. Ltd. cut its holdings in PTC Inc. (NASDAQ:PTC – Get Rating) by 5.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,251 shares of the technology company’s stock after selling 2,942 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in PTC were worth $5,414,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First National Bank of Omaha lifted its position in PTC by 8.0% in the 1st quarter. First National Bank of Omaha now owns 93,542 shares of the technology company’s stock valued at $10,076,000 after acquiring an additional 6,904 shares in the last quarter. Neuberger Berman Group LLC raised its stake in PTC by 30.6% during the 1st quarter. Neuberger Berman Group LLC now owns 5,685 shares of the technology company’s stock valued at $612,000 after buying an additional 1,333 shares during the last quarter. Toroso Investments LLC raised its stake in PTC by 15.0% during the 1st quarter. Toroso Investments LLC now owns 4,769 shares of the technology company’s stock valued at $514,000 after buying an additional 622 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in PTC by 66.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 52,090 shares of the technology company’s stock valued at $5,611,000 after buying an additional 20,721 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC purchased a new stake in PTC during the 1st quarter valued at $4,329,000. 94.84% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Robert W. Baird decreased their target price on shares of PTC from $160.00 to $153.00 in a research note on Thursday, July 21st. Wolfe Research initiated coverage on PTC in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $155.00 price objective for the company. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. JPMorgan Chase & Co. began coverage on PTC in a research note on Friday, September 16th. They issued a “neutral” rating and a $128.00 price target for the company. Finally, Oppenheimer began coverage on PTC in a research note on Tuesday, July 26th. They issued a “market perform” rating for the company. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.44.
Insider Activity at PTC
PTC Stock Down 2.2 %
PTC opened at $109.34 on Friday. The firm has a 50-day simple moving average of $116.65 and a two-hundred day simple moving average of $110.82. PTC Inc. has a 52 week low of $96.55 and a 52 week high of $136.00. The company has a market capitalization of $12.84 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.66.
PTC (NASDAQ:PTC – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.19. PTC had a net margin of 26.19% and a return on equity of 18.13%. The firm had revenue of $462.47 million during the quarter, compared to the consensus estimate of $473.65 million. During the same quarter last year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts forecast that PTC Inc. will post 3.25 earnings per share for the current fiscal year.
PTC Inc operates as software and services company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers a set of capabilities that enable enterprises to digitally transform every aspect of their business with innovative solutions that are simple to create, easy to implement, scalable to meet future needs, and designed to enable customers to accelerate time to value; and Vuforia, which enables the visualization of digital information in a physical context and the creation of AR.
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