DAVENPORT & Co LLC decreased its stake in PTC Inc. (NASDAQ:PTC – Get Rating) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,721 shares of the technology company's stock after selling 3,141 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.05% of PTC worth $6,244,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. NuWave Investment Management LLC purchased a new stake in PTC in the first quarter worth about $26,000. Cyrus J. Lawrence LLC purchased a new stake in PTC in the first quarter worth about $43,000. Brown Brothers Harriman & Co. purchased a new stake in PTC in the first quarter worth about $50,000. CWM LLC increased its position in PTC by 50.4% in the first quarter. CWM LLC now owns 594 shares of the technology company's stock worth $64,000 after buying an additional 199 shares in the last quarter. Finally, National Bank of Canada FI increased its position in PTC by 23.5% in the first quarter. National Bank of Canada FI now owns 631 shares of the technology company's stock worth $68,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.
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In other news, Director Blake D. Moret sold 100,000 shares of the firm's stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $118.84, for a total value of $11,884,000.00. Following the completion of the sale, the director now directly owns 9,191,050 shares of the company's stock, valued at approximately $1,092,264,382. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Blake D. Moret sold 100,000 shares of the firm's stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $118.84, for a total value of $11,884,000.00. Following the completion of the sale, the director now directly owns 9,191,050 shares of the company's stock, valued at approximately $1,092,264,382. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Blake D. Moret sold 8,000 shares of the firm's stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $124.68, for a total value of $997,440.00. Following the completion of the sale, the director now directly owns 10,012,234 shares of the company's stock, valued at $1,248,325,335.12. The disclosure for this sale can be found here. Insiders sold 272,100 shares of company stock valued at $32,925,130 in the last ninety days. Insiders own 10.15% of the company's stock.
PTC Price Performance
Shares of PTC stock opened at $105.17 on Tuesday. The stock has a 50 day moving average of $116.96 and a 200 day moving average of $110.86. PTC Inc. has a 12 month low of $96.55 and a 12 month high of $136.00. The firm has a market cap of $12.35 billion, a PE ratio of 24.98, a PEG ratio of 2.56 and a beta of 1.17. The company has a current ratio of 1.23, a quick 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. The company had revenue of $462.47 million during the quarter, compared to analyst estimates of $473.65 million. PTC had a return on equity of 18.13% and a net margin of 26.19%. The firm's revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share. On average, research analysts expect that PTC Inc. will post 3.25 EPS for the current fiscal year.
Analyst Ratings Changes
Several research firms recently issued reports on PTC. StockNews.com cut PTC from a "buy" rating to a "hold" rating in a research report on Friday, July 29th. Robert W. Baird cut their target price on PTC from $160.00 to $153.00 in a research report on Thursday, July 21st. JPMorgan Chase & Co. began coverage on PTC in a research report on Friday, September 16th. They set a "neutral" rating and a $128.00 target price for the company. Rosenblatt Securities cut their target price on PTC from $156.00 to $146.00 and set a "buy" rating for the company in a research report on Thursday, July 21st. Finally, Wolfe Research began coverage on PTC in a research report on Tuesday, August 16th. They set an "outperform" rating and a $155.00 target price for the company. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $138.44.
PTC Company Profile
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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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