MML Investors Services LLC cut its stake in PTC Inc (NASDAQ:PTC) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,123 shares of the technology company’s stock after selling 684 shares during the period. MML Investors Services LLC’s holdings in PTC were worth $425,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in PTC by 10.1% during the 4th quarter. BlackRock Inc. now owns 11,472,093 shares of the technology company’s stock worth $951,035,000 after buying an additional 1,055,829 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in PTC by 8,190.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,497,800 shares of the technology company’s stock worth $42,000 after buying an additional 3,455,607 shares during the last quarter. Praesidium Investment Management Company LLC lifted its holdings in PTC by 0.8% during the 4th quarter. Praesidium Investment Management Company LLC now owns 1,812,649 shares of the technology company’s stock worth $150,269,000 after buying an additional 14,386 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in PTC by 13.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,717,008 shares of the technology company’s stock worth $142,340,000 after buying an additional 200,120 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in PTC by 0.6% during the 4th quarter. Eagle Asset Management Inc. now owns 1,238,115 shares of the technology company’s stock worth $102,639,000 after buying an additional 7,433 shares during the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.
A number of analysts have issued reports on the company. BidaskClub raised PTC from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Barclays reiterated a “buy” rating and set a $104.00 target price on shares of PTC in a research report on Friday, January 25th. Wedbush cut their target price on PTC from $108.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, January 24th. Zacks Investment Research upgraded PTC from a “hold” rating to a “strong-buy” rating and set a $109.00 target price on the stock in a research report on Friday, April 12th. Finally, Guggenheim set a $100.00 target price on PTC and gave the stock a “buy” rating in a research report on Tuesday, January 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $103.88.
PTC (NASDAQ:PTC) last released its earnings results on Wednesday, April 24th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.03. PTC had a return on equity of 12.70% and a net margin of 4.65%. The company had revenue of $315.50 million for the quarter, compared to analysts’ expectations of $312.29 million. During the same quarter in the previous year, the firm posted $0.34 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts expect that PTC Inc will post 1.07 earnings per share for the current fiscal year.
In other news, Director Donald K. Grierson sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $93.31, for a total transaction of $466,550.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James E. Heppelmann sold 85,740 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $84.86, for a total value of $7,275,896.40. Following the sale, the insider now directly owns 679,391 shares in the company, valued at approximately $57,653,120.26. The disclosure for this sale can be found here. Insiders have sold a total of 139,227 shares of company stock worth $12,263,593 in the last quarter. 9.91% of the stock is currently owned by insiders.
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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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