Oppenheimer Asset Management Inc. Buys New Holdings in PTC Inc (PTC)

Oppenheimer Asset Management Inc. bought a new stake in PTC Inc (NASDAQ:PTC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,499 shares of the technology company’s stock, valued at approximately $266,000.

Several other large investors have also recently modified their holdings of PTC. Millennium Management LLC boosted its holdings in shares of PTC by 225.6% in the second quarter. Millennium Management LLC now owns 1,038,404 shares of the technology company’s stock valued at $97,413,000 after acquiring an additional 719,478 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of PTC by 1,157.4% in the second quarter. First Trust Advisors LP now owns 362,419 shares of the technology company’s stock valued at $33,999,000 after acquiring an additional 333,595 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of PTC by 2.5% in the second quarter. BlackRock Inc. now owns 10,657,911 shares of the technology company’s stock valued at $999,819,000 after acquiring an additional 260,827 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of PTC in the second quarter valued at about $766,000. Finally, Marshall Wace LLP boosted its holdings in shares of PTC by 284.2% in the second quarter. Marshall Wace LLP now owns 267,335 shares of the technology company’s stock valued at $25,079,000 after acquiring an additional 197,757 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

PTC stock opened at $85.01 on Friday. The stock has a market cap of $10.37 billion, a P/E ratio of 98.85, a P/E/G ratio of 2.44 and a beta of 1.54. PTC Inc has a 52 week low of $59.40 and a 52 week high of $107.44. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.74.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $312.52 million for the quarter, compared to the consensus estimate of $322.00 million. PTC had a net margin of 4.19% and a return on equity of 11.97%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, equities analysts predict that PTC Inc will post 1.11 earnings per share for the current year.

PTC has been the topic of a number of research analyst reports. Cowen set a $105.00 price objective on shares of PTC and gave the stock a “buy” rating in a report on Sunday, October 28th. JPMorgan Chase & Co. decreased their price objective on shares of PTC to $96.00 in a report on Friday, October 26th. BidaskClub downgraded shares of PTC from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Guggenheim initiated coverage on shares of PTC in a report on Tuesday, August 7th. They set a “buy” rating and a $115.00 price objective on the stock. Finally, Zacks Investment Research raised shares of PTC from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 25th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $98.63.

In other PTC news, CFO Andrew Miller sold 34,453 shares of PTC stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $92.16, for a total transaction of $3,175,188.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Phillip M. Fernandez sold 250 shares of PTC stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $102.46, for a total transaction of $25,615.00. Following the transaction, the director now owns 20,912 shares of the company’s stock, valued at approximately $2,142,643.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,608 shares of company stock valued at $3,377,338. 1.19% of the stock is currently owned by company insiders.

TRADEMARK VIOLATION NOTICE: “Oppenheimer Asset Management Inc. Buys New Holdings in PTC Inc (PTC)” was reported by WKRB News and is the sole property of of WKRB News. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark laws. The original version of this news story can be accessed at https://www.wkrb13.com/2018/11/10/oppenheimer-asset-management-inc-buys-new-holdings-in-ptc-inc-ptc.html.

About PTC

PTC Inc develops and delivers software products and solutions worldwide. It operates through three segments: IoT Group, Solutions Group, and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things (IoT) applications and augmented reality (AR) experiences; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

Read More: What is a Fiduciary?

Want to see what other hedge funds are holding PTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PTC Inc (NASDAQ:PTC).

Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

Receive News & Ratings for PTC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply