Norges Bank purchased a new position in shares of PTC Inc (NASDAQ:PTC) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 842,678 shares of the company’s stock, valued at approximately $38,991,000. Norges Bank owned 0.73% of PTC as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sandler Capital Management purchased a new position in PTC during the fourth quarter worth approximately $8,006,000. Castleark Management LLC purchased a new position in PTC during the fourth quarter worth approximately $3,426,000. Teachers Retirement System of The State of Kentucky boosted its position in PTC by 824.4% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 239,623 shares of the company’s stock worth $11,088,000 after buying an additional 213,700 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in PTC during the fourth quarter worth approximately $365,000. Finally, AQR Capital Management LLC boosted its position in PTC by 115.2% in the fourth quarter. AQR Capital Management LLC now owns 16,700 shares of the company’s stock worth $773,000 after buying an additional 8,941 shares during the last quarter. 97.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PTC Inc (NASDAQ:PTC) opened at 51.94 on Friday. PTC Inc has a 12-month low of $31.58 and a 12-month high of $56.73. The company has a 50-day moving average of $54.69 and a 200 day moving average of $48.86. The firm’s market capitalization is $6.01 billion.
PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, January 18th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The business earned $286 million during the quarter, compared to analysts’ expectations of $287.11 million. PTC had a negative net margin of 3.50% and a positive return on equity of 7.04%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. On average, analysts predict that PTC Inc will post $1.26 EPS for the current year.
A number of research analysts have recently commented on PTC shares. Royal Bank of Canada boosted their target price on shares of PTC from $55.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday. Zacks Investment Research cut shares of PTC from a “hold” rating to a “sell” rating in a research report on Wednesday, January 18th. Wedbush reissued an “outperform” rating and set a $59.00 target price on shares of PTC in a research report on Friday, March 3rd. Barclays PLC set a $60.00 target price on shares of PTC and gave the stock a “buy” rating in a research report on Thursday, January 19th. Finally, Brean Capital reissued a “buy” rating on shares of PTC in a research report on Thursday, December 8th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $57.00.
In related news, Director Paul A. Lacy sold 6,028 shares of the firm’s stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $50.00, for a total transaction of $301,400.00. Following the transaction, the director now owns 54,115 shares of the company’s stock, valued at $2,705,750. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Phillip M. Fernandez sold 500 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $55.62, for a total transaction of $27,810.00. Following the transaction, the director now directly owns 12,575 shares in the company, valued at approximately $699,421.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,581 shares of company stock worth $4,310,926. 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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