Vanguard Group Inc. Buys 430,924 Shares of PTC Inc. (PTC)

Vanguard Group Inc. boosted its stake in shares of PTC Inc. (NASDAQ:PTC) by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,188,631 shares of the technology company’s stock after buying an additional 430,924 shares during the period. Vanguard Group Inc. owned about 7.94% of PTC worth $482,863,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PTC. FMR LLC boosted its stake in shares of PTC by 115.0% in the first quarter. FMR LLC now owns 5,150,179 shares of the technology company’s stock valued at $270,642,000 after buying an additional 2,755,079 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of PTC during the first quarter valued at $130,787,000. Thornburg Investment Management Inc. acquired a new stake in shares of PTC during the first quarter valued at $109,170,000. UBS Asset Management Americas Inc. boosted its stake in shares of PTC by 1,572.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,457,367 shares of the technology company’s stock valued at $67,431,000 after buying an additional 1,370,223 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of PTC during the first quarter valued at $53,169,000.

Shares of PTC Inc. (NASDAQ:PTC) opened at 57.49 on Tuesday. PTC Inc. has a 1-year low of $38.26 and a 1-year high of $60.22. The company has a 50-day moving average of $56.65 and a 200-day moving average of $53.28. The stock’s market capitalization is $6.64 billion.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, April 19th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. The business had revenue of $280 million for the quarter, compared to the consensus estimate of $283.81 million. PTC had a positive return on equity of 7.22% and a negative net margin of 3.12%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. On average, equities research analysts expect that PTC Inc. will post $1.21 EPS for the current fiscal year.

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Several brokerages recently weighed in on PTC. Evercore ISI set a $65.00 price target on shares of PTC and gave the stock a “buy” rating in a research report on Saturday, March 25th. Goldman Sachs Group, Inc. (The) started coverage on shares of PTC in a research report on Monday. They issued a “neutral” rating and a $62.00 price target on the stock. Pacific Crest boosted their price objective on shares of PTC from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Tuesday, June 6th. Griffin Securities boosted their price objective on shares of PTC from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, April 20th. Finally, Benchmark Co. started coverage on shares of PTC in a research report on Thursday, May 18th. They set a “buy” rating and a $65.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $62.00.

In other PTC news, Director Robert Schechter sold 1,420 shares of PTC stock in a transaction on Friday, April 21st. The stock was sold at an average price of $52.86, for a total transaction of $75,061.20. Following the sale, the director now owns 65,954 shares of the company’s stock, valued at approximately $3,486,328.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anthony Dibona sold 3,308 shares of PTC stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $53.56, for a total value of $177,176.48. The disclosure for this sale can be found here. Insiders have sold a total of 38,353 shares of company stock worth $2,080,765 in the last ninety days. 1.02% of the stock is owned by company insiders.

About PTC

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.

Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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