Bank of America Corp DE Has $19.81 Million Position in PTC Inc. (NASDAQ:PTC)

Bank of America Corp DE lowered its stake in shares of PTC Inc. (NASDAQ:PTC) by 28.3% during the first quarter, Holdings Channel reports. The firm owned 377,026 shares of the technology company’s stock after selling 148,493 shares during the period. Bank of America Corp DE’s holdings in PTC were worth $19,812,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PTC. BlackRock Inc. raised its stake in shares of PTC by 10,192.0% in the first quarter. BlackRock Inc. now owns 10,303,522 shares of the technology company’s stock valued at $541,450,000 after buying an additional 10,203,410 shares during the period. FMR LLC raised 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 during the period. Marshall Wace North America L.P. acquired a new stake in shares of PTC during the first quarter valued at about $130,787,000. Thornburg Investment Management Inc. acquired a new stake in shares of PTC during the first quarter valued at about $109,170,000. Finally, UBS Asset Management Americas Inc. raised 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 during the period. Institutional investors own 96.40% of the company’s stock.

Shares of PTC Inc. (NASDAQ:PTC) opened at 56.79 on Monday. PTC Inc. has a 52 week low of $37.25 and a 52 week high of $60.22. The stock has a 50 day moving average of $56.65 and a 200 day moving average of $53.28. The stock’s market cap is $6.56 billion.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, April 19th. The technology company reported $0.30 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 analyst estimates of $283.81 million. PTC had a positive return on equity of 7.22% and a negative net margin of 3.12%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. On average, analysts expect that PTC Inc. will post $1.21 earnings per share for the current year.

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A number of equities analysts have weighed in on the stock. 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. Pacific Crest upped their price target on shares of PTC from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. Griffin Securities upped their price target on shares of PTC from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, April 20th. Benchmark Co. assumed coverage on shares of PTC in a research report on Thursday, May 18th. They issued a “buy” rating and a $65.00 price target for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $59.00 price target on shares of PTC in a research report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $61.73.

In related news, Director Robert Schechter sold 1,420 shares of the business’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $52.86, for a total value of $75,061.20. Following the sale, the director now directly owns 65,954 shares in the company, valued at approximately $3,486,328.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Anthony Dibona sold 3,308 shares of the business’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $53.56, for a total transaction of $177,176.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,353 shares of company stock worth $2,080,765. 1.11% of the stock is owned by 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.

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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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