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 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.
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.
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